"The old skipper was walking in the garden, glass in hand. I knew I should find him up, though it was soon after sunrise. No fear of his being in bed and the sun up. 'Hallo! Carryall,' he said, 'I was just thinking about you; thought I could make out the Florentia yesterday. What sort of a voyage have you had, and what luck among the right whales?'

"'Pretty fair. Rather longer out than I expected, but didn't do badly after all; had some trading among the islands; cocoa-nut oil has gone up, and the copra I got will pay handsomely.'

"'That's good news,' he said; 'and look here, Carryall, my boy, I've been thinking lately that a very paying business might be put together by going in regularly for island trading. They're ready and willing to take our goods, and their raw material—oil, copra, fruit, ever so many things that they are only too glad to sell—would pay a handsome percentage on the outlay. What is wanted is a partner here with capital, a few ships to go regularly round the islands, and a manager who knows the language and understands the natives. If I were a little younger, by Jove! I'd go into it myself. You'll stay and breakfast with us of course. We're not late people. By the by you haven't heard of my boy in your travels, have you?'

"'Well I have heard of him, and—'

"'Heard of him!' he said, not giving me time to get further; 'where? what was he doing?'

"'Well, he was supercargo on board the Leonora—Hayston's brig. They had been at Ocean Island just before me.'

"'Hayston, Bully Hayston?' the old man said, looking stern. 'I'm sorry he was mixed up with that fellow. A fine seaman, but a d—d scoundrel, from all I've heard of him; what were they doing there? However, I know young fellows must buy their experience. Perhaps he's left him by this time.'

"'The Leonora was wrecked in Chabral harbour,' I said, 'and her bones lie on the coral reef there. She'll never float again.'

"'Ha! and did Hilary get off safe? I suppose it was a heavy gale. Heard anything of him since?'

"'He stayed at Moūt for some time,' I said, 'and then was lucky enough to get a passage to Sydney in the Rosario, but he left her at Norfolk Island.'