scanned PDF has weird paragraph breaks. Possible to fix

[lunixer]

I have a scanned pdf of Sherlock Holmes that is just wacko. For example, one passage looks like this:

"He was in the house about half an hour, and I could //
catch glimpses of him in the windows of the sitting-room, pacing //
up and down, talking excitedly, and waving his arms. Of her I could see nothing. //
Presently he emerged, looking even more flurried than before. As //
he stepped up to the cab, he pulled a gold watch from his pocket and looked //
at it earnestly, 'Drive like the devil,' he //

This all should be one paragraph but each // indicates a paragraph break. Is there any way to fix this so I can convert it to a mobi? I know that I can get a copy of this from Project Gutenberg but this one has some pretty neat illustrations and whatnot, so I kind of wanted this one.