“Buck Stewart!” they shouted joyously, pumping his arms up and down. “Well, if this isn’t both the most unexpected and the luckiest thing! We’ve been wanting to have a talk with you for two days past, and meant to ask the managing editor about you Tuesday, only we were interrupted and got so flustered over it that we left before remembering that you were one of the main reasons for our call.”

“What good fairy brought you here to-night, Buck?” asked Ned, pulling the newcomer down into a chair at the table and shoving a piece of pie in front of him.

“I’d rather eat that pie than talk right now, but I suppose I’ve got to answer your question first,” said Buck. “We reporters always are in hard lines. You ask how I happen to be here? Well, it was this way: The night city editor called me over about an hour ago and gave me an assignment on you two chaps.”

“Why, what news is there about us that the Herald could use?” asked Ned, exchanging a rapid glance with Alan and the major.

Buck removed a longing eye from the piece of pie to reply:

“We learned in some way that unknown parties had made you a cash offer of something like three hundred and twenty-five thousand dollars for the Ocean Flyer and that you turned them down cold. Is that true? Also, who were the people who wanted to buy the Flyer at such an astounding cash figure, and for what purpose did they want it? If you’ll give me full details I’ll be much obliged.” This as the reporter pulled a folded bundle of note paper and a pencil from his pocket. “These prospective buyers didn’t represent any one of the warring nations in Europe, did they?”

“That’s just what we don’t know and what we feared,” said Alan. “I’m afraid that we can’t give you much dope for a story, though, Buck, because we know as little about them as you do.”

Then he went on to tell about Mr. Phillips, the go-between’s mysterious call, and the telephone conversation with the man with a strong German accent.

“I’m sure that I’ve heard his voice somewhere before and that not so very long ago, too,” added Ned. “I’ve racked my brains ever since trying to place him.”

“Huh, sounds funny,” commented the reporter musingly, “but you certainly haven’t given me much of a lead for the ‘story’ I was after. Well, I’ll be going and not interrupt your little party here any further.”