'But you're licked,' said Williams; 'you're fairly licked.'

'Life's a game,' said the state marshal philosophically, as he went over the side with his United States rival, 'and if we won always we should get swelled head.'

He looked up from the boat.

'Say!' he called.

'Yes,' said Williams.

'If we're licked, and I own it, where is the captain?'

'I'll send word from Europe,' said Williams.

But, as a matter of fact, he sent word by the skipper of the tug. For it was Captain Ticehurst who steered the old Comet over the bar with the Oriana behind.

'Now, what I want to know is,' said the captain to his mate, 'what I want to know is, whether it isn't better to treat men as men, and best that crowd in Portland?'

Williams looked melancholy.