"You are now underneath the deep water formed by our dam, which was built by the beavers who were our forefathers many years ago, and which has endured until now. But in all the years of its existence the little Princess and the Incubator Baby are the first human beings to be admitted to our fairy palace. Your companion, my dears, is merely gingerbread, and lives by means of fairy powers that make him a fit comrade for fairies the world over."

"It was very good of you to save us from the Mifkets, and we are grateful," said the girl.

"You're all right!" added Chick, emphatically.

"I am glad to be of service to one so sweet and beautiful," returned the King, with a dignified bow toward the Princess, "and to one so merry and frank," he continued, turning to Chick. "And now, if you will kindly follow me, I will show you the rooms of my palace, and introduce you to my people. You must be content to remain my guests until I can find means to restore you to the freedom of the upper world in which you are accustomed to exist."

He led them through the gorgeous hall and along delightful passages into various rooms. Some were large and some were small, but all were extremely beautiful, and Chick wondered greatly at the extent of this under-water palace, the existence of which no one could suspect who stood in the forest above, beside the dam of the beavers.

"Are all beavers' homes like this?" asked the child.

"No, indeed!" answered the King, laughing softly. "They are usually houses composed of mud, mixed with bits of wood and the leaves and branches of trees. But I am King of the Beaver Fairies, who watch over the fortunes of all ordinary beavers and take care of them. We are invisible, even to beavers; and the eyes of mankind can never see us unless, as in your case, we permit them to do so. These rooms seem to you deserted, but I assure you they are filled with many beaver fairies, who are even now watching you with much curiosity."

Both the children started at hearing this, and glanced hastily around; but nothing but the walls of the palace met their gaze, and the King smiled upon them indulgently.

"At our banquet, this evening," said he, "I will permit you to see my people. But now please come to the music-room, where you may enjoy the strains of harmony that provide us with one of our chief amusements."

He led the way to another room, the roof of which was dome-shaped. From different points in this dome projected the ends of many silver tubes, and near the floor of the room, directly underneath each of the tubes, was placed a plate of glass or of metal.