"Say, that's an awful hike down to Hank's gilded palace," grumbled Bill, "why didn't you have Sam wait for us off here?"

"Yes, and have old man Hudgins discover him when he finds his boat is gone," sneered Jack, "you'd have made a fine botch of this if it hadn't been for me."

The two exchanged no further words on the weary tramp along the soft beach. They plodded along steadily with the silence only broken by a muttered remark emanating from Bill Bender from time to time.

"Thank heaven, there's the place at last," exclaimed Bill, with a sigh of relief, as they came in sight of the miserable hut, "I began to think that Hank must have moved."

Jack gave a peculiar whistle and the next instant the same light the boys had seen earlier in the evening shone through the chinks of the hovel.

"Well, he's awake, at any rate," remarked Jack with a grin, "now to find out where the boat is."

As the wretched figure of the beach-comber appeared Jack hailed him roughly.

"Where's that boat, Hank?"

"Been cruising off and on here since eleven o'clock," rejoined the other sullenly, "ah! there she is now off to the sou'west."

He pointed and the boys saw a red light flash twice seaward as if some one had passed their hands across it.