“Oh, I didn’t make this,” said Toby innocently. “I just earned it. It’s a regular half-dollar.” He flipped it in the air to let it fall on the seat beside him in proof of his assertion, and it did just as he intended it should, up to the point when it struck against the wood. After that it acted most inconsiderately, for, having landed on its edge, it flew up again and described a graceful curve over the gunwale.

“Grab it!” yelled Arnold. Toby made a frantic clutch for it, but his hand closed emptily and the coin disappeared into the green water of Great Peconic Bay!

There was a moment of deep silence during which the occupants of the launch gazed at each other in surprised consternation. Then:

“I’m awfully sorry,” murmured Arnold.

A slow smile spread over Toby’s face. “So am I,” he replied, cheerfully. “But that’s what I get for being foolish. I mean that’s what I don’t get. Well, maybe I earned it too easily, anyhow. I guess a quarter would have been enough for that job. It puts me back fifty cents, though, toward getting to Yardley Hall, doesn’t it?”

“Look here,” began Arnold shyly, “I wish you’d let me——” His hand moved tentatively toward his pocket. “It was partly my fault, anyway——”

“Yes, you rocked the boat,” answered Toby gravely. Then he broke into a hearty laugh. “Say, Arnold, you and I will have this old bay just choked up with money if we keep on! They’ll have to begin and dredge it first thing we know. There’s two and a half already, and here it is only the first of July!”


CHAPTER V
SHOTS IN THE DARK