“Never mind that,” said the other. “I’m ‘supposing a case,’ as Irv says, and simply for convenience I take one thousand dollars as the total value of the boat and everything in her. Now, suppose we have to throw overboard one hundred dollars’ worth. That is one-tenth of the whole. That tenth must be divided, not equally, but proportionally, among all the persons interested. Suppose the boat is worth two hundred dollars. That is one-fifth the total value, and so the boat owners must bear one-fifth of the one hundred dollars’ loss. That is to say, we fellows should have to ‘pony up’ twenty dollars among us, or four dollars apiece. A man owning three hundred dollars’ worth of freight would be charged thirty dollars, and so on through the list.”
“Oh, I see,” said Phil, who in the meantime had been studying ways and means of accomplishing the practical purpose in hand. “And a very good arrangement it is. Now stop talking, and let’s heave out some of these bales of hay.”
“Why not take some of the other things instead?” asked Irv. “They are heavier, and to throw them over would lighten the boat more.”
All this while the boys were at work getting the hay out.
“We aren’t trying to lighten the boat,” replied Phil. “We’re only trying to make room, and the hay takes up more room, dollar’s worth for dollar’s worth, than anything else. So it’s cheapest to ‘jettison’ hay—thanks for that new word, Ed. Now, heave ho!” And the first bale of hay went over the bow into the water.
“Now, another!”
In a brief time a considerable space was cleared.
“That will do, I think,” said Phil. “We shan’t have to ‘jettison’ anything more, if you fellows will stop your chatter and get to work. If you don’t, I’ll jettison some of the crew.”
This brought a needed smile, for the boys were by this time almost exhausted with work and loss of sleep. Phil thought of this. He had not himself slept a moment since his discovery that the boat was sinking at midnight of the night before, while all the rest had caught refreshing little naps between their tours of duty at the pumps. But he left himself out of the account in laying his plans.