“Say,” exclaimed John excitedly. “Just look at them. Are there any more?”

“Just this,” said Grant quietly and he spread a sheet of paper before the gaze of his two companions. “Do you recognize it?”

“I should know those figures in China now,” said Fred disgustedly. “It’s that same old code again.”

“I know it,” said Grant, “but do you see what’s written across the top?”

“Sure enough,” exclaimed Fred. “What does it say, anyway?”

“‘This tells where the rest of it is,’” Grant read aloud.


CHAPTER XVIII
IN THE WATER

John, Fred and Grant sat and looked at one another and at the two gold pieces which lay glittering in John’s hand. Then they looked at the third copy of the code which had turned up so strangely.

“I wish Pop were here,” remarked Grant grimly.