Rick took his belt slate and wrote, "Whre wld he hide it?"
Scotty read it with his light, then shrugged. They began a methodical inspection of the cabin, surprised that it was so clear of marine life. Rick surmised that the opening had developed only recently, perhaps from the shifting of the ship. They found a closet and a heap of what had once been clothes on its floor. Then Scotty made the big discovery of the day. He reached into a shelf space above the bunk, hand exploring, and touched something hard. He drew it out. It looked like a green-covered bundle about a foot long and two inches thick. But before he had a chance to inspect it further, his air gave out and both boys hurried to the surface on their reserves.
Aboard the Water Witch they shed their equipment and sat down to inspect Scotty's find. The covering proved to be layer after layer of oilcloth, wrapped around the object. The outer layers had deteriorated somewhat, but the inner ones were intact.
Scotty finished unwrapping and found a second wrapping of still-dry linen. He pulled the linen off, and both boys gasped. It was a jeweled dagger, with a good-sized ruby winking in its hilt!
"Take it out of the sheath," Rick suggested.
Scotty did so, and disclosed a blade covered with some hard brown substance. "That's not rust. Got a jackknife?"
Rick found one and handed it to him. Scotty scraped and was rewarded by the gleam of bright metal.
"It must have been coated with heavy grease," Rick remarked. "During the years, the grease hardened into a permanent rustproof coating. Wait until the scientists see this!"
Scotty grinned his pleasure. "This is one treasure the log didn't mention. Poor Captain Campion must have thought a lot of it to protect it so thoroughly."
"He might have been taking it to the New World as a gift for some influential friend," Rick ventured. "It looks like Spanish work."