"Wa'al, what d'ye know about that? Them chaps is either lunatics or millionaires, or both. Wa'al, it's none of my affair, an' there might be things I wouldn't do for fifty dollars, but keepin' my mouth shut for a while ain't one of 'em. What a yarn I'll have ter tell when them two chaps gets out of town! Kain't get over thet old feller, though. Fer all his years, he's spry as a boy; suthin' mighty funny about both on 'em."

With this, Lem resumed his seat on the edge of the wharf and dismissed the matter from his mind as far as was possibly consistent with the knowledge of the—to him—gigantic sum reposing in his blue jeans.

Yet, had he known it, he was letting slip through his fingers the possibility of earning a far larger sum. For the man with the queer eyes was Ivan Karloff, a notorious anarchist, for whom a reward of five thousand dollars was offered, following a bomb outrage in New York, and his companion was Berghoff himself.

What were these two men doing in Bellport? Why did they want a fast boat for a mysterious night trip?

The answers to these questions would have held a burning interest for our friends on the submarine island. Like a vicious snake, Berghoff was preparing to strike what he hoped would be a vital blow at the Peacemaker and her guardians. Crafty and unscrupulous, he had invested in his services Ivan Karloff, whose price for dangerous undertakings was high, but whose skill in his nefarious line of endeavor was supreme.

It was about midnight when Lem Higgins' motor boat crept up to a spot not far from where the Peacemaker lay at anchor. Behind her she towed the promised small boat. Berghoff, as we must now call the old man, was at the engines. His companion was steering.

"Is this near enough?" inquired Karloff, in a low tone, as Berghoff slowed up the engines.

"Yes. We want to run no chances. It would not be pleasant for either of us to be nipped now."

No more words were exchanged till the anchor was noiselessly let drop.

Then Berghoff spoke.