o a
stake stickin' out of the water and hitched my boat to it and lay in the
bottom an' went right to sleep.

"As long as I was tethered to the stake or bush or whatever it was I
reckoned I was all right, an' so I slep' on without feelin' a bit alarmed,
knowin' that I wouldn't drift no more an' in the mornin' I could go on an'
reach the shore.

"When I woke up in the mornin' I was mightily astonished to find myself
lyin' on the ground at the foot of a big tree and to find the boat hangin'
to the topmost limb. Ye see, the rainwater had run off an' left the ground
bare again, and as the boat slipped down to the perpendickalar I was
dropped out an' went from branch to branch till----"

Percival let out a hearty laugh and fairly shook himself, saying at last
when he could find breath:

"Baron Munchausen with variations. I've heard that story before, Ben, but
the rain was snow and the twig was a church steeple. Still, it's a good
story and will bear a bit of a change."

"H'm! I knowed you'd say I was lyin'!" grunted Ben, pulling heartily on
his oar and cutting his story short.

Dick put the bag of gold and the letters Jack had picked up in his trunk
under his berth and locked it, saying nothing at that time to any one, but
resolving to go again with Jack, and bring away the chest if they could
manage it.

He meant to tell the doctor about their wonderful find when they had all
of it safely in their possession, and to have the letters translated so as
to learn definitely all about the wrecked vessel and its mission, but just
now he thought it wise to say nothing and Jack agreed with him.

Not all of the boys were on the yacht when the two young adventurers
returned, and nothing was said about their having to hail the yacht, but
as the others began to arrive, some time later, Percival watched them in
turn to see if he could distinguish guilty looks on the faces of any.

When Herring and Merritt came on board he suddenly stepped out from behind
a funnel, which had hidden him so that the two bullies did not see him
till just as he faced them.

Both of them showed surprise, and Percival said to himself:

"They are the ones, just as I supposed. When anything happens to me or
Jack and especially to Jack, look out for Pete Herring."

The two bullies passed him as quickly as they could, and had nothing to
say, being evidently much astonished at seeing him on the yacht, but
fearing to say anything lest they should betray