Phil agreed that this could not be done, and it was finally concluded to tell Emile about the wreck, and to let him join in the preliminary operations. It was also agreed that Phœnix Poole should be taken into partnership.

Phœnix was quiet, but he was a good, square fellow, and did not have much chance for fun. Work was rather slack at the Poole farm just then, and he could occasionally have an opportunity to get away. It would be a mean thing, both boys agreed, not to let Phœnix in.

When Emile was told the story of the wreck and the sunken treasure, he treated it with incredulity, and even scorn.

Phil did not care whether he believed it or not, but Chap was very much annoyed that any one should doubt a thing so self-evident as this, in which he took so great an interest. In his zeal to convince the French boy he told him much more than he should have done, considering his compact with the man with the black straw hat; but Emile shook his head and sneered at the whole affair.

Notwithstanding this, however, he made one of a party of four boys who went down to the river, one warm morning, to make a practical survey of the position of the wreck, especially that part of it which was entirely submerged.

A large, flat scow was poled out into the river, and anchored over the spot where Chap had calculated that the stern of the vessel must lie.

The boys were all good swimmers, and the preliminary observations were to be made by diving. Emile did not undress, but sat in the scow and watched the other boys.

Half a dozen times each of the three swimmers stood up on the side of the scow, and plunged to the bottom of the river, but each time they came up with the report that they could discover nothing but mud and mussel-shells.

Phil had just declared that they might as well give up the diving business, for that day, at any rate, when, to the surprise of the other boys, Emile began to get ready to go into the water.

“It’s no use to dive for ze sunken ship,” he said, “but it is so hot I must take one little swim.”