"You understand fully, do you not, Benson?" demanded George Melville,
breaking the silence.

"I heard you, sir," Jack replied, not without an effort.

"And what have you to say, Captain Benson?" inquired Mr. Farnum, speaking
with some effort.

Captain Jack turned around to face his employer; the other two submarine
boys wheeled with him.

"Mr. Farnum, we have been in your employ, and we have always taken your
orders. If you say we are to be dropped from the boat's crew, we bow to
what we can't prevent."

"No one has spoken--definitely, that is--of dropping you boys from the
'Pollard's' crew," interposed Mr. Melville, slowly. "I have only
announced that in the reorganization of this enterprise the group that
I represent will require that my son, Don, be placed in command of the
'Pollard,' and of any other submarine boats that may be built. If you
do not like to work aboard the submarines, very likely we can find work
for you at something in this yard."

Jacob Farnum exchanged a few words in an undertone with David Pollard.
Now, the boat builder faced about.

"Mr. Melville," he began, "Mr. Pollard and I feel under a debt of deep
obligation to Captain Benson and his mates. Boys though they are, they
have done much to make the 'Pollard' as famous as it already is.
Between an intelligent employer and a capable, honest employe there can
be no question about gratitude. I speak for both Mr. Pollard and myself,
therefore, when I say that it is our feeling that Captain Benson and his
mates must continue in their present positions."

The color came back to Jack's face. Joy beamed out in his eyes. Hal
looked as though he had been given a new lease of life.

"Hooray!" roared Eph. He gave two vigorous jig steps, then stopped,
abashed.

"Excuse me, Mr. Farnum," he begged, shamefacedly.

"I do not think you quite understand," went on Mr. Melville, regarding
the boatbuilder coldly. "The placing of my son as I have indicated is
an absolute condition on the part of our group."

"And I have declined it," returned Mr. Farnum rising, and standing
easily.

"Then you do not want our capital, Mr. Farnum?" sternly demanded Mr.
Melville.

"Not on your conditions, sir!" came, sharply, from the boatbuilder.

"Oh, you will come to your senses, soon," rejoined the capitalist,
coolly. "You need a good deal of money for the extension of your
business, and we stand ready to supply it. All that is needed is the
conceding o