"She's weighing, sir," reported Villiers, who had been keeping the Zug under observation by means of powerful binoculars. "They've steam on her winch."

Harborough's rugged features wore a weird smile.

"That's the stuff to give 'em," he exclaimed. "Tell O'Loghlin to give her full throttle. We'll have to keep up the pretence."

With every stitch of canvas set and both engines developing their utmost horse-power, the Titania skirted the eastern and north-eastern extremities of Nua Leha. So far the wind helped her, but presently she would be headed by the breeze.

Before an intervening headland cut off a view of the lagoon it was seen that the Zug was actually under way. Harborough's bluff looked like succeeding. At all events the rival concern was being lured away from the maritime Tom Tiddler's ground.

"So she hasn't located the wreck," commented Harborough, as pleased as a dog with two tails. "We'll let her beat us on the last lap."

"It will be dark before they arrive," remarked Beverley.

"So much the better," rejoined Harborough. "If they choose to pile her upon the reef that's their affair. I wouldn't risk it."

The excitement of the speed-contest killed all sense of disappointment at having to retrace their course. For once at least Harborough evinced greater interest in what lay astern than in what lay ahead.

"There she is," exclaimed half a dozen voices, as the Zug's bows appeared from behind the headland.