At once there followed great excitement. A consultation was summoned. The man had evidently told his startling tale.

Our hero recognized Ike Denman, the traitor and falsifier, captain of the "Nancy," and he heard Ike say:

"You are sure it was not one of the islanders?"

"I am sure. I tell you I recognized the man!"

"You recognized him?"

"Yes."

"Who was he?"

"Ballard!"

A murmur of incredulousness rose from the men, and Ike Denman exclaimed:

"You have been fooled by your fancy; you have been dreaming!"