The Shayzien journal is an old journal written by King Shayzien VII, who ruled Great Kourend from the 32nd to 37th decade. Recovered from the Tower of Magic during the uprising against Xeric at the end of the Age of Strife, it was sent via parcel by an unknown party to Phileas Rimor's house, and kickstarts the events of the quest Tale of the Righteous.
During A Kingdom Divided, the journal is recovered from Lord Kandur Hosidius' hidden office at the request of Lord Shiro Shayzien. It is revealed later in the quest that it was Lord Hosidius who had acquired the journal and sent the parcel to Phileas, while the journal players took from his office was actually just a copy with many bits removed.
When read, the chatbox message states The old journal seems to have been bound shut somehow. Maybe Lord Shayzien will know what to do with it.