"I hope it ain't Gib's fortune," replied Scraggs drily.

"Shut up," bellowed Mr. Gibney. He was sniffing himself by this time, for as the launch swiftly approached the derelict the unpleasant odour became more pronounced.

"Betcher that schooner was in collision with a steamer," Captain Scraggs announced. "She was cut down right through the fo'castle with the watch below sound asleep, an' this here fragrance appeals to me as a sure sign of a job for the coroner."

The commodore shuddered. He was filled with vague misgivings, but Neils Halvorsen grinned cheerfully. McGuffey got out a cologne-scented handkerchief and clamped it across his nose.

"Well, if that's Gib's fortune, it must be filthy lucre," he mumbled through the handkerchief. "Gib, what have you hooked on to? A public dump?"

Mr. Gibney's eyes flashed, but he made no reply. They had rounded the schooner's stern now, and her name was visible.

"Schooner Kadiak, Seattle," read Scraggs. "Little old three sticker a thousand years old an' cut clear through just abaft the foremast. McGuffey, you don't s'pose this here's a pirate craft an' just bulgin' with gold."

"Sure," retorted the engineer with a slow wink, "tainted wealth."

Mr. Gibney could stand their heckling no longer. "Looky here, you two," he bawled angrily. "I got a hunch I picked up a lemon, but I'm a-willin' to tackle the deal with Neils if you two think I didn't do right by the syndicate a-runnin' up a bill of expense towing this craft into port. I ain't goin' to stand for no kiddin', even if we are in a five-hundred-dollar towage bill. Man is human an' bound to make mistakes."

"Don't kid the commodore, Scraggsy. This aromer o' roses is more'n a strong man can stand, so cut out the josh."