with a black
fin, that he's a man-eater, an' haunts the pearl fisheries. Beggin' your
pardon, sir, but where might you have heard of him?"

"Oh, we just heard some of the men talking," answered Bob carelessly,
and Birch touched his forelock again and was gone. For a second time the
boys' eyes met.

"Holly, this doesn't look right to me," said Mart finally, his gray eyes
hard. "Birch knows more'n he said. That explanation of his don't go down
with me, not a bit! I wouldn't wonder if there was such a fish--right
where we're going, too!"

"By juniper!" Holly's face was troubled. "Of course, it's likely; such a
fish would hang around the pearl beds, 'cause that's where he'd most
likely meet up with divers. If he's a man-eater, he'd do that. The story
sticks together pretty well, Mart! Of course we've got to remember that
sailor yarns generally are stretched."

"Well, you lay low," cautioned Mart, reaching for his key and sending
out a crashing spark in call, over and over. Then he leaned back and
waited for an answer. "We can't go to your dad with this, and anyway,
Bob, there ain't much behind it. Here--I'll tell you! Mebbe that shark
is there, and old Jerry got the dynamite to have some fun with on his
own hook. If there was any wreck or treasure, he'd have kept his mouth
shut."

"That sounds more like it, Mart. Still, he's a talkative old guy, and he
likes us a heap, you in particular. There's somethin' queer about it,
though. Jerry said that Dailey--the leathery old scoundrel--had sailed
with him before; then there was that talk between him and Swanson. And
have you noticed anythin' queer about the way those men hang together?"

Mart sent him a quick look, as he adjusted his headpiece.

"Huh? Well, I've noticed that they obey Swanson a heap quicker than they
do Peters. Peters got mad yesterday an' knocked that grinnin' Yorke
galley-west! But they're old men, Bob."

"That's just it," returned Holly earnestly. "So's Jerry old, and Swanson
ain't a spring chicken by any means. They hang together, that's all. And
remember, Jerry was the one that signed 'em all on. I'll get dad to
mention the _Coralie_ one o' these days."

"Well, you go slow," cautioned Mart again. "Hello--there's a call--" he
leaned forward. "TTY--that's the _Tenyo Maru_. She's just out o' San
Francisco, so she can relay a message, I guess. Golly, your dad's
keepin' close watch on the stock market!"

He grinned as he sent out the message and Bob