“You bet I know,” cried Margate, pointing. “He is in a trap under this floor, a trap adjoining the sluice. Do you see that lever Ardley is gripping? It opens the floodgate of the sluice. When Ardley throws it—we shall drown Nick Carter like a rat in a trap.”

Pasty’s ears tingled and his face turned as threatening as a thundercloud.

“If that big bull moose throws that lever, then, he’ll throw it over my dead body,” he said to himself, stealing close to the door and peering in to watch the huge ruffian.

Toulon stared like a man nonplused.

“Nick Carter there?” he gasped. “Drown him like a rat? But that will be murder. It means——”

“Never mind what it means, you milk-and-water monkey!” Margate fiercely cut in. “I know what it means if we let him live. I’ll wipe this cursed dick out of my path, if it’s the last thing I do in this world. Throw the lever, Ardley! Throw the lever and drown the infernal sleuth!”

Patsy Garvan was in the building before the last was said.

Before he could utter a warning cry, however, for he would have held up the entire gang without bloodshed, if possible, he saw Ardley, who was ready and willing to obey, sag back on the iron lever.

Patsy’s revolver barked on the instant.

The report rang like thunder through the old building.