"Ahoy!" he roared, through the megaphone.

Again and again he repeated the call. At last he thought he heard an answer out of the deeps.

"Louder!" he roared. "Give us your position."

Suddenly, some sixty feet off the rail, Jed just made out the heads of Joe Dawson and Frank Boilings.

The cashier was floating, now, making no resistance, for Joe had struck him a blow across the head with his clenched fist. Rollings, stunned, floated unresistingly, supported by Dawson.

"We'll have a boat to you in a jiffy!" shouted Jed, while Bickson threw a life preserver with almost perfect aim.

Now, the "Victor," whose speed had been slowing down, was stopped.

Joe and his charge had drifted just out of sight, but a boat was quickly lowered, under command of Bickson, and reached the pair, after hailing.

"Where's the captain?" demanded the quartermaster, as Joe and Rollings were hauled in.