ting, but I don't suppose you would look at it in that way."

"No, no; don't do that," cried Chutney. "Who knows what may happen yet?"

"Ah! there you are again," said the colonel; "still clinging to hope of
life; still unable to realize the truth. You are only making it so much
the harder for yourself."

"But there is surely some outlet to this vast body of water?" said
Melton.

"Yes," was the colonel's reply. "Undoubtedly, but it must be at the
bottom of the lake; it certainly is not on the surface. Do you suppose
those poor savages would have perished here if an outlet had existed?
They, too, must have been carried by accident into the wrong channel,
and no doubt they circumnavigated the lake, as we have done. Realizing
that they were lost, they either slew themselves to end their
sufferings or they fell victims to the serpents without much
resistance."

While Melton and the colonel were carrying on this conversation, Guy
rose and went down to the water, with the intention of gathering some
food, for he, too, was hungry.

The canoe was pulled partly on shore, and as it leaked a little the
water had all collected in the stern, where Sir Arthur still lay in
merciful sleep, thus wetting the rugs.

Guy noticed this, and with a view to making the sleeper more
comfortable, he slid the canoe down until it lay flat in the water. It
still retained a slight hold of an inch or two on the sand.

A sudden cry from the Greek brought him back in a hurry to the top of
the island.

His companions were staring out on the lake, and Canaris was pointing
with a trembling hand at some unseen object.

"What is the matter?" cried Guy. "What do you see?"

"Hush," said the colonel, holding up a warning finger. "Something is
moving out on the lake. Do you hear it splashing in the water?"

As yet nothing could be seen, but the noise was very plain and distinct,
a steady swish! swish! not unlike the beating of a little steamer.

A chilling fear grew on them as they listened to this strange,
mysterious sound.

"Whatever it is, it is moving in a circle round the island," said Guy,
"and keeping an equal distance from the shore."

"You are right, Chutney," said the colonel, after a pause. "The sound
was on our left a moment ago. Now it is on our right."

The Greek was correct. The surface of the lake was violently agitated,
though not a breath of air was stirring, and a steady flow of ripples
was breaking on the sandy beach like