“Oh, dear!” groaned Moddridge again.

Nor was the nervous man one whit reassured by seeing Joe, after slowing up the engine somewhat, step up on deck bearing a couple of wrenches. As for Jed Prentiss, that youth had laid down the marine glasses to pick up a formidable looking boat-hook.

Even with her lessened speed the “Rocket” was now within less than a quarter of a mile of the racing craft.

“Confound it! Now, what does that mean?” vented Tom, disappointedly, as he beheld one of the men aboard the other craft leap to his post at the wheel. In another moment the answer came. The racing boat was moving through the water again. Every instant her propeller churned up the water a little faster.

“They’ve fixed their engine,” quavered Captain Tom. “What we’ve now got to find out is whether their motor is strong enough to get them away from us.”

For some three or four minutes the two craft remained about the same distance apart, despite the fact that Joe Dawson, who had dropped down once more into the engine room, was coaxing his motor along as skilfully as he could. Then, at last, the stranger began to draw ahead.

“The lucky scoundrels!” gritted Tom. “They’re able to go at least pretty close to their full speed. See ’em eat up the miles again!”

“At least, then, there’ll be no fight,” declared Mr. Moddridge, in a tone of relief.

“Nor will your friend and our employer have any chance to get back to his own boat at present,” retorted Tom Halstead. Ordinarily he could stand this nervous man’s agitated spells, though just now they wore upon the young skipper’s patience.

For a few miles the chase continued, the stranger gaining all the while. The two boats had been running, lately, about five miles off the Long Island coast. Now, the stranger could be seen heading much more to the northward, as though intent on making the coast.