"There'll be a sharp rise in freight rates on
all commodities the instant war breaks out, and the American mercantile
marine ought to reap a harvest."

"My dear boy," said Cappy acidly, "why speak of the American mercantile
marine? There ain't no such animal."

"There will be--if the war in Europe ever starts," Matt retorted; "and,
what's more, I'm going to bet there will be war within thirty days."

He did not consider it advisable to mention to Cappy that he was going
to bet ten thousand dollars!

CHAPTER XLVIII. VICTORY

At ten o'clock the following morning Matt Peasley, accompanied by an
attorney, an expert in maritime law, presented himself at the Oriental
Steamship Company's office. MacCandless and the attorney for his company
were awaiting them, with a tentative form of contract of sale already
drawn up, and after a two-hour discussion on various points the finished
document was finally presented for the signatures of both parties, but
not, however, until Matt Peasley had been forced to do something that
brought out a gentle perspiration on the backs of his sturdy legs.
Before the shrewd MacCandless would consent to begin the work of placing
the vessel in commission, according to agreement, he stipulated a
payment of twenty-five thousand dollars down! He estimated the cost of
the docking and repair work at fifty thousand dollars, and, desiring to
play safe, insisted that Matt Peasley should advance at least fifty per
cent. of this preliminary outlay in cash.

Matt thereupon excused himself from the conference on the plea that he
had to consult with others before taking this step. He was gone about
fifteen minutes, during which time he consulted with the "others."
They happened to be two newsboys selling rival afternoon editions.
Matt Peasley did business with each, and after a quick perusal of both
papers, he decided that war was inevitable and resolved to take
the plunge. In no sense of the word, however, did he believe he was
gambling. His conversation with Terence Reardon had convinced him that
the Narcissus was a misunderstood ship--that she had been poorly managed
and was the victim of a false financial policy.

Hence, even though the war should not materialize, he would be making no
mistake in tying her up. She was a bully gamble and a wonderful bargain
at the price; with Terence Reardon presiding over her engines at a
salary twenty-five dollars in excess of the union scale, the orders to
keep