“That’s all. Mr. Delavan says to head about for East Hampton,” Jed reported.

With a parting toot from the whistle, Halstead altered the course.

“Make your best speed, captain,” was the next order young Prentiss transmitted.

So it was not long before the “Kaiser” and the “Rocket” were some miles apart. Mr. Delavan came on deck, smiling. Tom tried not to wonder, though he could not help guessing what the Wall Street magnate could have accomplished by means of this brief, eventless cruise alongside the larger vessel.

But Mr. Moddridge! His face was positively wreathed in smiles. All his fears seemed to have vanished. The smaller man was still nervous, but it was the agitation of intense joy.

“It’s all right, Halstead,” beamed Mr. Delavan.

“I suppose it must be, sir,” smiled the youthful skipper.

“You’re puzzled, aren’t you, lad?”

“Why, I’m trying not to be, as, of course, it’s none of my business.”