"Quick!" cried Steve, as soon as he could be heard by those at the rail, "let down the ladder. They're after us!"

"Who is it?" demanded Mr. Tupper, curiously; but Captain Krell marked the panic on the faces of those on board the launch and issued prompt orders. The aft davits were run down in a jiffy and Steve and Chesty hooked them to the launch, which was quickly raised with all on board and swung over the rail to the deck.

There were a few tumbles and some scrambling to get out of the boat, but at that moment Ramon Ganza's big launch swept into the bay, and the Mexican, assured by one sharp glance that his clever plan to surprise the yacht was thwarted, shut down the engines and halted his craft while he examined the situation at his leisure.

Madeline Dentry's superb yacht was indeed a prize worth winning. It was even worth running some risks to acquire. Ramon reflected that the Salvador and her helpless crew were really at his mercy, for they were unable to float the ship and were at present securely imprisoned. He laughed rather maliciously at their vain opposition, and said to his lieutenant, the one-eyed man:

"Very good, Francisco. Everything comes my way, you see. A little patience and the beautiful ship is ours, for it surely is wreck, and I justly claim all wrecks on my islands. There will be rum aboard, or at least plenty of liquors and wines. Champagne, perhaps. You shall have all the spirits for your drink if you back me up firmly in my demands."

"What will you do, señor?"

"Insist on taking possession of the ship, which, according to my law, is mine," he answered, with grim humor. "Perhaps they may object, in which case you will stand by your chief. But understand: you must use no knives or pistols; I can't afford to have murder added to the charges against me. If diplomacy fails, we will fight with our bare fists, in American fashion, and our numbers will suffice to conquer those insolent strangers who come here uninvited and then refuse to abide by my laws."

He took from his pocket a note-book and with a fountain pen wrote upon one of the leaves as follows:

"To my beloved Friends, the Americaños:

Alas, your ship is hopeless wreck. I, the lord and ruler of these islands, behold the sad condition and with grief, for I must condemn the ship as wreck, which I do by right of Spanish Grant to me, from which is no appeal. With pain for your loss, I am obligated to confiscate the ship that before was yours, with all it contains, and to declare it is now mine. I demand that you deliver my property into my hands at once, in the name of law and justice, and I believe you will do so, because otherwise you will become the enemies of the kingdom of