The captain unlocked his safe and produced it. Crawshay glanced through some of the documents hastily.

"These are all bogus, too!" he exclaimed. "There are no such streets as this in New York—no such names. The whole thing's a sell!"

"But what the—what in thunder does it all mean?" the captain demanded, pulling himself up as he glanced towards Katharine.

Brightman, who had scarcely spoken a word, leaned across the table.

"Probably," he said drily, "it means that some one a little cleverer than us has got away with the real stuff whilst we played around with this rubbish."

"But how?" Crawshay expostulated. "Not a soul has left this ship who hasn't been searched to the skin. The luggage in the hold is going out trunk by trunk, after every cubic foot has been ransacked. We have had a guard at every gangway since we were docked."

There was a knock at the door. The ship's doctor entered. He glanced at the little company and hesitated.

"I beg your pardon, Captain," he said, "could I have a word with you?"

The captain moved towards the threshold.

"Ship's business, Doctor?"