"As you please," Ned smiled. "Fawncy anything you like—anything agreeable, you know."

"And why won't you come to my office in the morning?" asked the
Captain, with a tightening of his thin lips.

"I have decided to withdraw from the enterprise," was the quiet reply.
"I'm out of it."

The boys gathered about Ned with cheers and words of encouragement.

"Go it, old boy!" cried one.

"Don't let him bluff you!" cried another.

"Dad will buy you a submarine!" Frank Shaw put in.

The Captain stood in the middle of the group, gazing in perplexity from face to face.

"My word!" he said, presently.

"What about it?" asked Jimmie, edging closer.