Jack removed the tray and set it on the floor, opening his eyes with astonishment, and giving vent to a startled exclamation at the same time.

"Well, it is not Captain Kidd, Dick," he cried, "but it is money, just the same, bags of it, and gold," untying the cord around one of the bags, and showing it to be full of gold pieces.

"Not pieces of eight, Jack?" asked Percival with a broad grin.

"No, American twenties and tens, and a few English sovereigns," said Jack, taking out a handful of the coins. "Why, there's more than a hundred dollars right in my fist."

"And a lot of bags, too, Jack," and Percival bent over and looked into the chest. "There must be thousands of dollars there, Jack."

"Yes, if they all contain gold. Take care of this one, Dick, while——"

At that moment there was a sudden heavy sound outside, and both boys started up in surprise.

"What's that, Dick?"

"I don't know, but I don't like it."

"There is no water coming in?"