Yet the boy felt like grinding his teeth in chagrin and bitter disappointment as he saw that swift touring car glide swiftly off the grounds to the road.

He had started to run after the car, hoping to overtake it before it got fully under speed, and to catch on in some way behind. But almost at once he saw that there was nothing to catch hold of at the rear, and immediately afterwards the car shot ahead at a speed of forty miles an hour.

“Whee! I hope the officers stop them, somewhere, for speeding,” thought Halstead, with a half hopeful grin as he slowed down to a walk. It would hardly do, however, to expect the car to be stopped for going only forty miles an hour on Long Island.

As the young skipper stepped out, panting, through the gate, he remembered the necessity of proceeding cautiously, lest he run afoul of Justin Bolton, who could not be far away, and was on foot. That scheming financier carried a revolver, and had shown himself not slow to use it. After half an hour Halstead felt that the danger of meeting Bolton was slight, and hurried on faster.

It was late in the evening when Tom Halstead entered the hotel grounds at East Hampton. A short distance away he had halted long enough to remove all excessive amounts of dust from clothing and shoes. In order to appear neither excited nor in haste, he sauntered slowly enough through the grounds, approached the veranda, stood there two or three minutes, walked about a bit in the lobby—long enough to see that two of the New York reporters were still on the scene—and at last escaped, without attracting special notice, up the stairs. Now he hastened to the door of Mr. Moddridge’s rooms, and knocked briskly.

“It’s Halstead, Mr. Moddridge,” he replied, in answer to a shaking query from within. The door flew open like magic.

“Halstead? Where have you been all these hours?” came the peevish question, as Eben Moddridge, in negligee attire and looking like a more than ill man, faced the young skipper. “You——”

Tom went inside, closed the door, and led the nervous one to an inner room. Here the motor boat boy poured out the whole story of what he had been through.

“Why, your new boy, Butts, hasn’t been near me with a word of this,” gasped Moddridge, presently.

“That must have been because he didn’t know you, of course,” evaded Halstead, easily. “But now, Mr. Moddridge, it will be necessary to pull all your wits together if you’re to save your friend and yourself. What should be the first move?”