esuming it was "gobbled up" by the Russians, but was
not willing to pay for the ship if the vessel was taken as a prize of
war.

"That is a risk you must take yourself," said the Japanese official. "We
are willing to pay a high price for the cargo--we cannot do more." And
so the risk--so far as the schooner went--was divided equally between
the Richmond Importing Company and Captain Ponsberry and the other
owners of the _Columbia_.

As nearly the captain's whole wealth was tied up in his share of the
schooner, he was naturally anxious to make a safe trip, and he often
came on deck to aid the lookouts in watching for the possible appearance
of an enemy.

"If you see the least thing that looks suspicious, tell me at once," was
his order, and it was strictly obeyed. As a consequence they ran away
from two steamers that afternoon and another steamer the next
morning--all too far off to show exactly what they were.

"This isn't bringing us much nearer to port," said Larry to Cal Vincent,
who was using the glass at the time. "I don't believe we have made a
dozen knots since yesterday."

"Well, the old man is a bit nervous," responded the boatswain, in a low
voice. "And I don't blame him. It's no small matter to lose your craft
and be thrown into prison in the bargain."

"Would they dare to throw us into prison?"

"To be sure,--if they could prove that we were aiding the Japs."

"Well, they'll have hard work proving that."

An hour went by and it began to grow misty. Then came a call from the
bow.

"Sail in sight!"

"What is it?" demanded the captain instantly.

"A big steamer o' some sort."

Captain Ponsberry ran forward and took the glass. For fully two minutes
he did not speak and then he drew a long breath and put down the glass.

"I'm afraid she's a warship," he exclaimed, and his voice sounded
unnatural.

"A warship!" echoed Larry. "Will you let me look?"

He did so, and it was not long before he could make out the approaching
craft quite clearly.

"Well?" demanded Grandon, who knew that Larry's eyes were unusually
strong.

"I reckon the captain is right."

"A warship?"

"Yes, not a very large affair, but still a warship. I shouldn't be
surprised if she was the converted vessel the _Lord Duffield_ sighted."

"Just what I think," put in Captain Ponsberry. "We've got to do our best
to show her a clean pair of heels."

"The mist may help us to run away," suggested Grandon.

"Let us hope so."