"But, first, please let me have those pearls. I'd hate to have them lost in this grass here. And I believe I can keep them safe in this red handkerchief of mine till we find a chance to stow 'em away in the haversack, after the boys examine our find."

"In the haversack!" echoed Steve. "Why, that's where we had the one that disappeared, box and all."

"Sure thing," Max asserted.

"But think of the risk—" Steve began.

"Oh, we've got to hide 'em somewhere, you know," laughed Max; "and they say lightning never strikes in the same place twice. Besides, you forget that we expect to post a sentry, so that your eyes, or mine, or those of Owen, Toby or Bandy-legs, will be on the bag all through the night. I'll take the pearls now, please."

Steve somehow seemed a little loth about letting the lovely little gems pass out of his possession.

As he handed them over, his chum plainly heard him give a sigh; and he caught him repeating the words:

"In the haversack, and we've got to look out."

Then both of the boys set to work.

The remaining shellfish were soon opened, and although the young pearl seekers searched eagerly, with hope tugging at their hearts, no new prize rewarded their efforts.