"And, finally, on the fuel load, the cost price of three hundred thousand. Of course, Judge, there are detailed clauses as to normal use of fuel. He was actually insured against defects, premature explosions, accidental loss, et cetera."

Mayne did some addition in his head.

"So your company," he said aloud, "is prepared to pay two and a half million for the loss sustained by Captain Voorhis. What seems to be wrong with that?"

Both men began to talk but Melin, struggling less with temper, got the lead.

"Actually," he said, "we feel liable for only three hundred thousand."

Now it will get tough, thought Mayne. He silently awaited elucidation.

The combined stares of all parties, including the enigmatic glance of Eemakh, calmed the spluttering Voorhis. Melin continued.

"In the first place, the true value of the ship, even if we consider her to be incapacitated—which we do not—is only about one hundred and fifty thousand."

"She's worth more than that as scrap!" bellowed Voorhis.

"No, captain, just about that. It is exactly how we valued her. Do you have any idea, Judge, of how old that crock is?"