It was more difficult than they had expected to find the exact spot. The moonlight and the sheen it cast on the water were rather dazzling. The boys crept along slowly and carefully.
"I say, what a beautiful night it is," said Bill. "It's a good thing the watch is a gold one; if it were silver there wouldn't be much chance of seeing it—everything looks silver, and—"
But Humphrey interrupted him.
"This is the place—I'm sure it is—look, the smooth sand just beyond is where the girls jumped in, and—"
In his turn he was interrupted.
"You're right," cried Bill, "and—I do believe—no, there's a little wave hiding it again—now, look, Humphrey—isn't there something glittering still more than the wet stones, down there—on that smooth flat rock?"
Yes—another wave or two came gently lapping in, as if to say good-bye to the treasure they had been playing with, and then the boys stepped forward over the slippery stones, and Bill stooped down and quickly stood up again, with a shout of triumph, for the rescued prize was in his hands.
"And it really doesn't seem much the worse," said he and Humphrey to each other, as they made their way home.
Lilly was not in her first sleep—she was too unhappy to fall asleep as quietly as usual—when a tap at the door made her jump up. There stood her brothers, and behind them Mamma, smiling with pleasure, and for a minute or two Lilly's delight almost stupefied her. She could scarcely believe it was her own dear watch that Bill held out, and when she did believe it, she could not kiss and thank him and Humphrey enough.