"Then we cannot be far away from land?"

"I have no means of knowing. Probably not, if they relied upon oars."

"Why should they? There was a mast and sails stowed in the boat; they were always kept there for an emergency." She lifted her eyes, and stared about into the gloom. "Do you suppose, Captain West, they could have remained nearby to make sure the yacht sank?"

"No, I do not," he said firmly. "I thought of that once myself; but it is not at all probable. They were too certain they had done a good job, and too eager to get away safely. Hogan never deemed it possible for us to get away alive. As it was, the escape was almost a miracle."

"A miracle!" softly. "Perhaps so, yet I know who accomplished it. I owe my life to you, Captain West," she paused doubtfully, and then went on impulsively. "Won't you explain to me now what it all means? How you came to be here? and—and why those men sought in this way to kill me?"

"You do not know?"

"Only in the vaguest way; is it my fortune? I have been held prisoner; lied to, and yet nothing has been made clear. This man who went down in the cabin—you said he died trying to save me?"

"Yes; he endeavoured to release you from the stateroom, and was caught by
Hogan. In the struggle he received a death wound."

"I heard them fight. This Hogan then was the leader?"

"Of those on board—yes. But he is only the tool of others. This devilish conspiracy has been plotted for a long while. There must be a dozen involved in it, one way or another, but, as near as I can learn, the chief devil, the brains of the gang, is the fellow named Hobart. Have you known him—long?"