He was soon joined by the others, and again the senior partner indulged in his long, low whistle when he saw the missing goods neatly piled in a dry corner.

'As clever a hiding-place as ever I heard of!' cried Inspector Bird. 'No one would ever think of overhauling this old hulk. But there's your stuff, sir, all right.'

The senior partner dropped his hand on Chippy's shoulder. 'Slynn,' he said, 'you are a brave, clever lad. I'll admit now that I could scarcely believe your story, but I am sure that you have spoken the truth in every particular. My brother and I are not only grateful to you for this recovery of our property, but you have done a service to every honest man about the warehouse. It ought not to be difficult now to trace the thief and remove all suspicion from straightforward men.'

'A very good piece of work indeed, No. 1,' chimed in the instructor; then he turned to his brother. 'Well, Richard,' he said in quiet triumph, 'this is one up to the boy scouts, I think.'

'It is, Jim,' returned the senior partner; 'there's no mistake about that. A movement which trains youngsters to be cool and level-headed in this fashion ought to be supported.'

At this moment Inspector Bird, who had been searching the vessel generally, came back to the group below the companion. He had been given a general idea of Chippy's work in the discovery of the stolen goods, and now he wished to question the scout.

'First thing,' he said, 'did you know either of the men?'

'No,' said Chippy; 'I never saw their faces, and the only way I could spot one of 'em 'ud be becos he'd lost a finger.'

'Lost a finger!' cried Mr. Jim Elliott. 'Why, Luke Raper's a finger short!'

'Ah, ha!' said Inspector Bird; 'this begins to look like narrowing it down, gentlemen. It seems to me the sooner we have a talk to Mr. Luke Raper, the better.'