l set, she was in the
very act of cutting them to pieces!

"Look! look!" yelled Harry. "We are doomed!"

"My gracious!" moaned Blumpo.

On and on came the sloop, with gigantic bounds over the whitecaps.
Clarence Conant seemed utterly powerless to stay her course, or steer her
to the right or left.

The young ladies on board with him huddled in a heap near the tiny cabin,
their faces white with terror.

It was truly a thrilling moment.

Of the entire crowd Jerry was the only one to keep perfectly cool.

He was astride the row-boat, directly in the centre of the bottom, and it
seemed as if the prow of the Cutwater must strike him in a second more.

"Every one dive under!" he called out, and went overboard like a flash.

For a wonder Harry and Blumpo promptly followed suit.

Crash!

The row-boat was struck and stove in completely.

The Cutwater was quite a good sized craft, and though the force of the
collision did not damage her to any extent, it checked her progress
considerably.

Jerry went down and down. He made a long dive, and when he came up it was
within a yard of the sloop's rudder.

Before another boy would have had time to think, the boy who so loved the
water made up his mind what to do. He made a mighty leap and caught hold
of the rudder end ere the Cutwater could get beyond his reach. It was hard
work to hang on, as the sloop bobbed up and down with every wave, and the
rudder, being beyond control, swayed from side to side.

But Jerry was both plucky and full of grit. He clung fast, and, watching
his chance, climbed up to the stern and leaped on the deck.

A brief glance showed him the cause of the present trouble. Clarence
Conant was actually too much frightened to lower the sails. He had started
to act and got a rope twisted, and then, overcome with fear, had allowed
the matter to go while he clung to the bow in despair.

"You confounded coward!" cried the young oarsman. "You ought to have known
better than to go out on anything bigger than a duck pond."

He sprang to the halyards, and soon the main-sail came down with a bang.
The jib followed. There was no time to attend to the sails more than
this.

Jerry looked around anxiously for Harry and Blumpo, but for a long while
could see nothing of them.

"Look here," demanded Clarence Conant, recovering his composure, now the
greatest of the danger was over. "What--ah--do you mean by talking to me
in this fashion?"

"I mean just what