down almost to the water's edge.

"We can't land on this side," announced Bahama Bill. "The sea is too
dangerous here. We'll have to sail around to the south shore and lay-to
beyond the reef, and then take small boats to the inside of the
horseshoe."

Again the course of the _Rainbow_ was changed, and they skirted
the eastern shore of the island, which was truly shaped like a
horseshoe, with the opening on the south side. To the north, the east
and the west were smaller islands and reefs, sticking out, "like
horseshoe nails," as Sam said. Sailing was dangerous here, and they had
to go slow and make frequent soundings, so that they did not reach the
south side of Treasure Isle until almost nightfall.

"The same old place!" murmured Bahama Bill. "An' we anchored right out
here when we took that treasure ashore! I remember it as well as if it
was yesterday!" And he nodded over and over again.

"And where is the cave from here?" asked Mr. Rover, who was as anxious
as anybody to locate the treasure.

"You can't see it, because it's behind the trees an' rocks," replied
the tar.

The reef beyond the horseshoe was a dangerous one, with the sea dashing
up many feet over it. There was only one break, less than thirty feet
wide, so gaining entrance to the harbor would be no easy matter in a
rowboat.

"We had better wait until morning before we go ashore," said Captain
Barforth. "Even if we land we'll be able to do little in the darkness."

"Oh, don't wait!" pleaded Tom.

"Why can't some of us go ashore?" put in Sam, who was as impatient as
his brother.

"I'd like to go myself," added Dick, "even if I had to stay ashore all
night. Remember, the _Josephine_ is on the way here, and the
sooner some of us get to land and locate that cave the better."

"The _Josephine_ isn't here yet," said Fred.

"No, but she may put in an appearance at any time," answered Tom. "I
believe in taking time by the forelock, as the saying is."

The matter was talked over for a few minutes, and then it was decided
to let Tom, Dick and Sam go ashore in company with two sailors, who
would then bring the rowboat back to the steam yacht. The boys were to
take blankets and some provisions with them and spend the night on the
island.

"I don't think you'll find the cave without Bahama Bill's aid," said
Mr. Rover. "But it will do no harm to look around. If this isle is like
the rest of the West Indies there will be little on it to hurt you.
Ther