On the following morning, in accordance with their over-night arrangement, they got on board the catamaran after breakfast and, sailing out to the reef, anchored on its inner edge, and started to fish. They appeared, however, to have chanced upon an unfavourable spot to start with, for after about half an hour their efforts were rewarded by the capture of only four fish, so small as to be quite worthless, except for bait; Leslie therefore tripped his anchor and, setting his canvas, determined to try his luck somewhat further to the north-eastward, and nearer the entrance channel.

They had been under way some ten minutes, slipping along over the very inner edge of the reef, with the deep-water of the lagoon on their port hand, when Flora, who was peering abstractedly down into this deep, pellucid water, suddenly cried out—

“Oh, look, Dick, look; what is that huge object over there? Is it another wreck?”

“Where away?” asked Leslie, gazing out over the reef.

“Down there in the water,” answered the girl, pointing to a spot over the port quarter. “I cannot see it now, because of the light on the water; but I saw it most distinctly a moment ago. We sailed almost directly over it.”

“And you thought it looked like a sunken wreck?” asked Leslie.

“Yes,” answered the girl; “I certainly did. It was as large as a ship, and had somewhat the appearance of one.”

“Well, we will go back and have a look at it,” said Leslie; and, bearing up for a moment and then putting his helm down, he tacked, bringing the catamaran round in such a manner as to pass back over practically the same ground as before. And presently they both sighted the same object again—a huge something that certainly bore some resemblance to the hull of a ship, lying submerged upon the sandy bottom of the lagoon, about fifty fathoms from the inner edge of the reef. They were too far away from it, however, to distinguish it clearly, the light reflected from the surface of the water rendering their view of it indistinct; Leslie therefore this time wore the catamaran round, and, lowering her sails, allowed her to drift gently forward with the way that she still had on her. And this time they passed right over the object, when, as soon as the catamaran was fairly clear of it, he let go his anchor and allowed his craft to drive astern again until she floated fair and square over the mysterious thing. Then, lying down flat upon the deck of the catamaran, he peered straight down into the crystal-clear water, in the shadow of the craft, and saw beneath him what was unquestionably the weed-grown hull of a ship of antiquated model, of some four hundred tons measurement. She was heading straight for the reef, with her stern pointing toward the island. And as Leslie lay there intently studying her every detail, he presently made out a stout rope cable leading from her starboard hawse-pipe toward the reef, the end of it being buried in the sand. Her posture was such as to suggest to the experienced eye of the sailor that she had driven over the reef, somewhat in the same way as the Mermaid had done; but, unlike the latter craft, had cleared it altogether and had there been brought to an anchor, subsequently sinking where she lay. She seemed to have been a three-masted ship, for Leslie could see the stumps of the fore and main masts, and believed he could make out the stump of the mizzenmast broken close off at the deck. She had the appearance of a craft of somewhere about the Elizabethan period; being built with an excessive amount of sheer and a very high-peaked narrow poop, upon the after end of which the remains of what were probably three poop-lanterns could still be distinguished. She had a slight list to starboard, and had, in the course of her long submergence, either settled or become buried in the sand to the extent of about half the depth of her hull. What her nationality may have been it was of course impossible to tell, clothed as she was in a rankly luxuriant growth of weed. Leslie carefully noted in his pocket-book the exact bearings of the wreck; and then, lifting his anchor, they resumed their fishing, their efforts being rewarded with an excellent day’s sport.

Leslie now set to work with earnestness and enthusiasm upon his great task of putting together the cutter, the component parts of which had so fortunately happened to form a part of the Mermaid’s cargo. And the first thing he did was to name the prospective craft the Flora, as a compliment to his companion.

Now, the Flora, when completed, would be a craft of very respectable dimensions; far too bulky, indeed, to be launched by the simple process of pushing her off the beach into the water, as one would launch a small boat. The method of launching, therefore, was a matter requiring consideration, and would have to be arranged for before a stroke of work was done upon the boat herself. Leslie thought the matter over carefully, and at length arrived at the conclusion that there was nothing for it but to build the boat upon properly constructed launching ways. And for these he would require a considerable quantity of good stout timber properly squared; the provision of which involved a task of very considerable labour and difficulty. Trees there were in plenty on the island, of ample dimensions for his purpose; but how was he, single-handed, to get them down upon the beach, even after they had been trimmed and squared? And how was he to square them without a sawpit. The pit-saw itself he had, having found several among the other tools that formed part of the brig’s cargo; but to work such a tool single-handed was an impossibility. Weighing all these difficulties in his mind, Dick at length came to the conclusion that there was no alternative but to draw upon the brig for the necessary material; and he accordingly went, rather reluctantly, to work upon the task of breaking up the poor old Mermaid. He decided that the deck-beams of the brig would be the most suitable for his purpose; and to obtain these it was necessary to break up the deck—a long and arduous job, only to be accomplished with hard labour and the assistance of an elaborate system of tackles.