cely believe I had uttered when the words had
passed my lips. "Valerie, if you do not already know it, let me tell you
that, although we have not known each other a fortnight, I would give my
life to serve you."

"And I believe you and thank you for it from the bottom of my heart,"
she answered with equal earnestness; "but I can tell you nothing." Then,
after an interval of silence that must have lasted for some minutes, she
declared her intention of going below.

I accompanied her as far as the saloon, where she once more gave me her
hand and wished me good-night. As soon as her door had closed behind her
I went to my own cabin, scarcely able to realise that I had said what I
had.

I do not know whether it was the heat, or whether it was the excitement
under which I was labouring. At any rate, I soon discovered that I could
not sleep. Valerie's beautiful, sad face haunted me continually. Hour
after hour I lay awake, thinking of her and wondering what the mystery
could be that surrounded her. The night was oppressively still. Save the
throbbing of the screw, not a sound was to be heard. The yacht was upon
an even keel, and scarcely a wavelet splashed against her side. At last
I could bear the stifling cabin no longer, so, rising from my bunk, I
dressed myself and sought the coolness of the deck. It was now close
upon one o'clock, and when I emerged from the companion the moon was a
hand's-breadth above the sea line, rising like a ball of gold. I seemed
to have the entire world to myself. Around me was the glassy sea, black
as ink, save where the moon shone upon it. Treading softly, as if I
feared my footsteps would wake the sleeping ship, I stepped out of the
companion and was about to make my way aft when something I saw before
me caused me to stop. Standing on the grating which extended the whole
width of the stern behind the after wheel, was a man whom I had no
difficulty in recognising as Pharos. His hands were lifted above his
head as if he were invoking the assistance of the Goddess of the Night.
His head was thrown back, and from the place where I stood I could
distinctly see the expression upon it. Anything more fiendish could
scarcely be imagined. It was not the face of a human being, but that of
a ghoul, so repulsive and yet so fascinating was it. Try how I would, I
could not withdraw my eyes; and while I watched he spread his arms apart
and cried something aloud in a language I did not recognise. For upward