"You are sanguine," said the trainer, smiling.

"I am, and if he wins I believe I shall also secure the black pearl," said Jack.

"You are more likely to secure the pearl than the Cup," said Barry.

It was not long after this that Barry Tuxford received a letter from Silas Filey telling him that the black pearl was safe in his keeping, that it was a beauty, one of the best he had ever seen, and he wished he owned it. He requested him to put a price upon it, or allow him to make an offer for it. He made no mention of Amos Hooker's death, as he was not aware of it. There were sundry private matters touched upon, but the gist of the whole letter was an endeavour to obtain the black pearl at a fair price.

Barry handed the letter to Jack, who was overwhelmed with delight at its recovery, and was for sending at once to Silas to forward it to Sydney, so that he could send it to Winifred without delay.

Barry laughed at his impetuosity, and replied that the pearl was far too valuable to pass through the post, and that he must possess his soul in patience until they returned to Fremantle.

"The best plan will be to let Silas value it, and then you can pay over the balance after deducting your share. He will put a fair marketable price upon it, that I will impress upon him."

"But will it be safe in his hands, he seems to covet it?" said Jack. "You say he is an old thief. I dare not trust him."

"He will not play me false for many reasons," replied Barry, "and you may rest satisfied the pearl is quite safe."

"I shall not be content until I handle it again," said Jack.