"Tony, stand by with your boat-hook," shouted Frank.

But Tim struggled only for an instant on the surface, and then went down again.

"Way enough!" said Frank, as the Zephyr approached the spot. "Hold water! Oars!"

The boat, under the skilful management of the resolute young coxswain, lost her headway, and lay motionless on the water near the spot where Tim had last appeared.

"Do you see him, Tony?"

"No."

"Fred, forward with your boat-hook," continued Frank.

Fred took the boat-hook, and went forward to the bow of the Zephyr.

"There he is!" exclaimed Tony, as he caught a sight of the drowning boy beneath the surface.

Fred dropped his boat-hook into the water intending to fasten it into Tim's clothes.