“I am sure I haven’t seen any blue box,” answered Pepper, and looked around the standing-room of the Alice.

“What did you have in it, Will?” asked Fred Century.

“Why—I—er—oh, not much, but I didn’t want to lose the box, that’s all,” stammered the youth who had come close to drowning.

“Did you have it in your pocket when you went overboard?” questioned the young major.

“Yes, and I had my hand on it, too,” was the reply. “I suppose it’s at the bottom of the lake now,” added Will Carey. His face showed a look of positive worry. “How deep is it where the Ajax went over?”

“Must be ten or twelve feet at least,” answered Dale.

“Did you think you might go fishing for it?” questioned Fred.

“Yes—but not now.” And that was all Will Carey said about the blue, tin box. But that he was very much worried was plainly evident. And he had good cause to worry, as we shall learn later.

The point of land mentioned having been gained, the Ajax was towed around as Fred Century desired, and then the young owner was loaned a number of ropes and a pail for bailing.

“If I can’t right her I’ll tie her fast and send some boat builder after her,” he announced. “I am much obliged for what you’ve done. Some day I’ll race you again.”