finest perfumes," Neal said
slowly; "but that must surely be a mistake if it smells anything like
this," and he did violence to his stomach by inhaling a long breath of
the disagreeably laden air.

"It is true, nevertheless. Ambergris is believed to be the product of a
sort of ulcer or cancer which has formed in the bowels of a whale. After
a certain length of time, or because a cure has been wrought by change
of feeding place, the mass is dislodged. It floats, and is often found
far out to sea; but more particularly among the cays in the Turks
islands. It is the foundation of nearly every perfume, and in ancient
times was used for spicing wine."

During this conversation the boat had been lowered, and, with Mr.
Walters as steersman, was being pulled toward the land. Now Neal and
Teddy were sorry they had not accompanied the sailing master; but it was
too late for regrets, and the odor did not seem to be nearly as
disagreeable since they knew from what it proceeded.

"Never mind how much the stuff is worth," Teddy said, as he and Neal
leaned over the rail in company with Jake, who had come on deck to
ascertain why the yacht had been brought to a standstill, "it isn't a
nice thing to smell of, and I shall remember this afternoon whenever I
see perfume."

"It isn't always the most agreeable things which are of the most
service," Jake replied with an air of wisdom; and then as a loud shout
was heard from the shore, the boat having reached the land some time
since, he added, "It's ambergris for a fact, or they wouldn't be makin'
such a fuss."

Five minutes later the little craft was seen approaching the yacht, and
each instant the odor became stronger until both the boys were forced to
cover their organs of smell.

In the bow of the boat was a black mass looking not unlike coke, and
weighing, as was afterward ascertained, forty ounces.

"I thought I couldn't be mistaken, although I never run across anything
of the kind but once before," Mr. Walters said triumphantly, as he
handed the precious substance up to one of the sailors, who took it very
unwillingly.

"We shall be driven out of the yacht if you try to carry it home," Mr.
Emery replied, moving aft as far as possible.

"It won't trouble us many hours. We will sell or ship it at Nassau, and
I reckon all hands can manage to live until we arrive there."

The valuable substance was wrapped carefully in several thicknesses of
canvas, and placed in the hold whe