"Caution Russell! Not for the world. See here, I'll tell you something, and you can tell Doring or not, just as you please. To the best of my knowledge Russell is the thief."

"Walter!" ejaculated Paul. "Oh, no, you must be mistaken. Why, why—how could he get at the satchel? He was with Doring."

"I don't know about that. But I'm almost positive Russell is guilty."

"Have you any proof? You shouldn't say such a thing unless you have," retorted Paul, anxious to stick up for Walter, who had served him several good turns since they had become acquainted.

"I've got more proof against Russell than Doring has against me," answered Jim Haskett, boldly. "And what is more, I can prove what I've got to say."

"But what have you to say?" came in a cold, heavy voice behind Haskett, and turning swiftly the former mate of the Sunflower found himself confronted by Caleb Walton. The old gunner's face looked stern and angry.

"Why—er—where did you come from?" stammered the seaman.

"I asked you what you have to say against Walter Russell," demanded Caleb. "Come, out with it, or by the jumping beeswax, I'll wipe up this deck with you!" And he doubled up his fists.

"I'm not afraid, if you want to fight, Walton," replied Haskett, recovering somewhat from his fright. "What I said about Russell, I'll stick to."

"But what have you got to say? out with it," was the old gunner's demand.