me to a
close he had good reason for changing his mind on the subject.

It was about midnight, as near as the boys could judge without looking
at a watch, when the yacht was flung on her beam ends with a sudden
force which threw both out of the berth, and before the port-hole could
be fastened, flooded the state-room with water.

Teddy might well be excused for the shrill cry of alarm which escaped
from his lips, for at that moment even an experienced sailor would have
fancied the little craft had struck upon a reef, more particularly
since it was known they were in a dangerous locality.

"We are sinking!" he cried frantically as he tried in vain to open the
door, and Neal was of the same opinion.

After what seemed to be a very long while although in reality it could
have been but a few seconds, the Sea Dream slowly righted, and then it
was possible for the boys to gain the cabin.

Here they were met by Mr. Emery, who had just succeeded in leaving his
own room, and before any conversation could be indulged in the steamer
began pitching and rolling about in a manner that showed she was not on
the reef even if the first shock had been the result of striking one.

It was only by holding with all their strength to the immovable articles
of furniture that they avoided being flung from one end of the cabin to
the other, as the yacht plunged and tossed, throwing violently to and
fro everything which had not been securely fastened.

The cabin lamp was burning dimly, and the faint light only served to
reveal more clearly the general confusion.

Once amid the tumult the boys heard Mr. Emery shout:

"Don't be frightened; if there was any immediate danger Mr. Walters
would warn us."

"He may not be able to come where we are," Teddy thought; but he
refrained from giving words to such a dismal foreboding, and in silent
fear waited for--he knew not what.

CHAPTER IV.

A NEW DANGER.

To the frightened boys in the cabin it was as if the night would never
come to an end, and during every one of those fearful moments they
believed the yacht was on the point of taking the final plunge.

At four o'clock in the morning the steamer's movements became more
regular; but not less in violence, and, shortly after, the sailing
master came below.

"We are laying-to," he said to Mr. Emery. "There is a nasty sea on, and
I didn't care to take the chances of fighting against it."

"How does she stand it?"

"Like a darling.