“Well, yes. But then again, Captain West might just happen to know Mr. Chadwick. It might be a personal letter.”

“That’s worse! Don’t you remember what Mr. Kennedy said about Chadwick? He said he wasn’t the sort of man he’d like to sit down to dinner with. He said he was only selling out because it was good business to accept his offer. If Captain West’s a friend of Chadwick’s, then he’s no friend of Mr. Kennedy’s!”

Sandy Steele was becoming excited. As usual, he had to keep brushing back the cowlick that kept falling in his eyes as he talked.

“Be reasonable, Jerry. Don’t you remember how Mr. Briggs talked so insultingly of Mr. Kennedy when we first came aboard? ‘Ma Kennedy’ he called him. Then, when I was in Captain West’s cabin, he kept calling him ‘Old Man Kennedy.’ Doesn’t sound like much respect for their employer. And this afternoon, when we came on deck with Cookie, the skipper tried to pump me.”

Jerry’s eyes flew open.

“That’s right,” Sandy rushed on. “I didn’t have time to tell you before. But he pretended to be friendly, just so he could find out how much I knew about Dad’s discovery of the high-grade ore deposits.”

Sandy Steele’s lips tightened.

“No, Jerry,” he said grimly. “Captain West is not to be trusted.”

Then, to the horror of both youths, they heard an ugly, mocking voice saying, “You don’t say?”

Sandy Steele and Jerry James turned and looked straight into the leering face of Captain West’s mate.