Mr. Farnum," Hal insisted.

"I telephoned to Mrs. Farnum and she reports 'nothing new,'" continued
Eph. "It's queer."

Just then the boys heard a hail and saw David Pollard, bag and brief case
in hand, on the shore signaling to them.

"Where's Farnum?" he asked as soon as he was on the submarine.

"We'd, any of us, give six months' salary to know that, Mr. Pollard,"
said Jack, and went on to tell what had been taking place.

"That spells ruin for us," groaned the inventor, who knew how things
stood financially.

"Do you think, Mr. Pollard, that we'd better suggest to Mrs. Farnum to
put a detective on her husband's trail?" asked Eph.

"That trail would probably lead straight through the Melvilles," said
Hal bitterly.

"No, don't do that--yet," replied Pollard.

"Mr. Farnum may be away on legitimate business," added Jack slowly.

Hal and Jack rowed Mr. Pollard ashore. After bidding the inventor
good-bye, the two youths decided to go to the shipyard. As they were
about to enter the office they were accosted by a man who was coming
out. He asked them if they were in Mr. Farnum's employ.

"Yes, sir," Jack answered.

"Can you tell me where he is? The office force could give me no
information."

"Mr. Farnum is away at present," said Jack.

"I know that! Where is he?"

"Why should I tell a stranger about my employer's business?" asked Jack
sharply.

"Here's my card." The man was a Mr. Stevenson, the head of a firm of
ship's steel jobbers. "Here's a bill for twenty-five thousand dollars,
and Farnum seems to have disappeared. I can sell this at face value,
but I don't want to."

"Give Mr. Farnum a chance, Mr. Stevenson," pleaded Jack. "We can guess
who is willing to buy that bill from you--for a bonus. The man will
be as eager to buy next week as this."

The man looked shrewdly into the eyes of the two boys for a moment, then,
with a shrug of his shoulders, turned away, saying:

"I guess this can wait awhile."

The boys, after a brief call in the office, went on to town. Mr.
Melville was fond of horses, and still drove a handsome pair.

"There comes Don Melville in his father's carriage. I don't wonder they
hang on to it. Those horses are beauties," remarked Hal.

The carriage stopped and Don jumped out.

"Say, you muckers, things are happening and you won't be needed now on
the 'Pollard.'"

"Really?" drawled Jack indifferently.

Hal could not summon indifference, or the appearance