"Yes, it seems so. You are thinking of the one I found in the flying machine. We never settled whether that was really genuine or not, Dick, but this seems to be so. As far as I can make out it refers to a shipment of some sort, arms or gold or—why, Dick, this wreck cannot be so old, after all. The date of this is only that of last year and late at that."

"Then that knocks the Captain Kidd idea silly!"

"Never mind Captain Kidd. Let us see if we can open this chest. Do you know, I am a bit nervous about staying down here too long. You said it was uncanny, and so it is. I'll save these letters," picking up another from the floor. "Suppose we try the chest, Dick."

"The only reason that the water did not come in through that hole forward is that it was probably made by the rocks when she struck and this after part is much lower. She was caught fast and could not fall back. Well, what about the chest, can you open it?" for Jack was kneeling before it, and trying the fastenings.

"I don't know. The lock is closed, but it is only an ordinary iron one, and perhaps you might break it with the axe. There is no other lock that I can see. Try breaking it open, Dick."

Percival struck the padlock a terrific blow with the axe, and broke it in half, it being just a cast-iron affair and easily broken.

"It seems funny to put a lock like that upon a chest supposed to contain something worth while," remarked Jack, as he removed the pieces of the lock, pulled aside the hasp and opened the chest. "That is the way some persons do, however."

Throwing back the lid of the chest he found a tray containing some papers, a pair of pistols and a knife, a few odd trinkets of very little value, some loose cigarettes, two or three dozen in number, a cheap photograph, and a purse made of silver mesh containing a few gold coins.

"Whose picture is that, Dick?" he asked, handing the photograph to Percival, who took it and examined it carefully.

"Why, that's Villa or some of those rebel Mexicans," Dick answered. "I have seen it in the papers often. What's in the body of the chest?"