"If we had suspected that Nick was on board the Islander, we might have telegraphed to the police at Key West to arrest him and detain the steamer," I continued. "I am satisfied that Cornwood would not have gone to Key West if he had not expected to find Nick on board of the Islander. At least, he would not have gone without the hundred dollars he asked to pay his expenses in advance."

"Your logic seems to be entirely correct, but the facts so far do not seem to bear out the theory," laughed the colonel. "But I have recovered my steam-yacht, and I am entirely happy over the result so far."

"I have no desire to prove that Nick Boomsby is a thief and a rascal; on the contrary, I should be glad to have him relieved of the suspicion that hangs to him just now. Cornwood may have considered that the state-rooms were the most unsafe places on board of the vessel to conceal the money, and even Nick himself may have come to this conclusion before he had seen Cornwood."

"There is some reason in that," said the colonel. "Everybody in Jacksonville knew that both yachts were bound to New Orleans. Nick may have suspected that he would be charged with the robbery. He is old enough to understand all about the telegraph, and he may have put the money where it was not likely to be found, or if found, might not appear to have any connection with him."

Captain Blastblow had made as thorough a search in the port as I had in the starboard state-room, and had joined us in the cabin while we were talking about the matter. He seemed to fall in with our reasoning, and expressed his satisfaction that he had not been boarded by officers, who might have suspected him of being concerned in the robbery of the bank messenger.

"Cornwood has been on board of the Islander three days now," I said. "Have you seen much of him, Captain Blastblow, during this time?"

"Very little indeed. From the time he came on board Sunday, I think I hardly saw him at all until Monday afternoon. He was in close conversation with Mr. Boomsby most of the time, the steward said to me. The first night they sat up till after midnight; and Lonsdale says there was a good deal of strong talk between them," replied the captain.

"Do you know what it was about?" I asked.

"I haven't the least idea. I inquired how the passengers were getting on, and Lonsdale told me he thought they were in some kind of a quarrel."

"You don't spend any of your time in the cabin, do you, Captain Blastblow?" asked the owner.