they would take, as
to the distance by which the red would beat the white, as to the time
which would be occupied by the race, and as to fifty other things
which need not be mentioned. All took part in this; the excitement
rose high and the betting went on merrily. At length it was noticed
that the white was overhauling the red. The excitement grew intense;
the betting changed its form, but was still kept up, until at last
the two paper boats seemed blended together in one dim spot which
gradually faded out of sight.

It was now necessary to determine the state of the race, so
Featherstone ordered out the boat. The four were soon embarked, and
the men rowed out toward the point which had been chosen as the end of
the race. On coming near they found the paper boats stuck together,
saturated with water, and floating limp on the surface. An animated
discussion arose about this. Some of the bets were off, but others
remained an open question, and each side insisted upon a different
view of the case. In the midst of this, Featherstone's attention was
drawn to the dark spot already mentioned as the goal of the race.

"That's a queer-looking thing," said he, suddenly. "Pull up, lads, a
little; let's see what it is. It doesn't look to me like a spar."

The others, always on the lookout for some new object of interest,
were attracted by these words, and looked closely at the thing in
question. The men pulled. The boat drew nearer.

"It's some sort of floating vessel," said Oxenden.

"It's not a spar," said Melick, who was at the bow.

And as he said this he reached out and grasped at it. He failed to get
it, and did no more than touch it. It moved easily and sank, but soon
came up again. A second time he grasped at it, and with both hands.
This time he caught it, and then lifted it out of the water into the
boat. These proceedings had been watched with the deepest interest;
and now, as this curious floating thing made its appearance among
them, they all crowded around it in eager excitement.

"It looks like a can of preserved meat," said the doctor.

"It certainly is a can," said Melick, "for it's made of metal; but as
to preserved meat, I have my doubts."

The article in question was made of metal and was cylindrical in
shape. It was soldered tight and evidently contained something. It was
about eighteen inches long and eight wide. The nature of the metal was
not easily perceptible, for it was coated with slime, and