Well was it for those on board that the Bunting was quick on her helm! She bore off, just in time, the creaming surf not more than three cables' length ahead.

"A little too close for my liking!" exclaimed the yachtsman, but treating the danger lightly. "That's Ingalook, I suppose, Mr. Juneau?"

"Ingalook she is. At least, I think so. I've never been quite so close, before."

"And I don't want to be, again! Well now, I suppose, the real treasure hunt begins."

He called Jim.

"How did you say Chukalook Bank bore from here?"

"From Chukalook," Jim answered, "on a clear day, I could see this island two points east o' south, an' the other island, the Russian one, three points west o' south."

The yachtsman looked at him thoughtfully.

"And there's no knowing what compass correction to allow for a pocket compass, and there's the magnetic variation besides. Well, we'll work it out! And how far away do you reckon the island was?"

"I don't know nothin' about sea distances, Cap'n. She looked just about the size o' my thumb-nail."