"You won't beat us. You've got a pretty speedy old boat there, all right, but you've met your match this time."

"Do you really think you can lick me?" asked Tony. "You know you haven't a chance. This is a real speed boat."

"This is a better one. Come on—we'll start from that buoy."

Frank pointed to a buoy that was riding the waves about a hundred yards away and the two boats sped toward it. They kept on even terms until they came abreast of the buoy and then Tony shouted:

"Now!"

At the same instant, the boats leaped forward. The engine of Tony's craft set up a deafening roar, but the Sleuth merely changed from a purr to a growl and sprang swiftly through the water.

Tony had the advantage in that he knew his boat well and he knew just how much power it would stand. Within half a minute he had established a substantial lead, while the Sleuth was surging along in his wake.

But Frank knew that the boat was more powerful than it seemed.

Gradually, he "let her out," and the Sleuth responded until at last he could see that they were gaining on the craft ahead. By this time Tony was tearing along at the highest speed of which his swift craft was capable, and the boat was almost rising out of the water with the force of its momentum.

Rapidly, the Sleuth overhauled the flying craft, swiftly it drew abreast, and the boys had a glimpse of Tony's astonished face as he glanced over the side at them.