"I don't know that," answered Dave. "I do know that Schmitt-Schmitt appeared here a few days ago. He has been trying to engage a ship to go after a fortune he says he can find. Of course it's our treasure."

"The spalpane! Of coorse it is!" cried Stoodles excitedly.

"My theory," went on Dave, "is that the Raven was terribly disabled or lost in the cyclone. I am also pretty sure that the treasure was saved. Perhaps it was already hidden somewhere on land. At all events, Schmitt-Schmitt was in the secret, either as the partner and emissary of others of the Raven crowd or on his own account. He managed to get a small boat afloat, was taken up by a liner, and landed here. Now his whole time is given, as I said, to finding a ship that will go after a fortune, as he terms it, on shares."

"Your theory is raisonable, your theory is right," insisted Stoodles.

"Schmitt-Schmitt," proceeded Dave, "made friends with the governor here. He seems to be staying at the pilot's house. When the Swallow was sighted he at once reasoned it out that we had discovered the real contents of those four boxes, that we might be bound straight back for the Windjammers' Island. He induced the pilot to run us onto the sunken brig in the creek."

"Dave, I believe you've got this matter just right," said Bob thoughtfully.

"If that is true," continued Dave, "they will do all they can to delay us. Who knows but what this rascally governor and his crew may intend to take the Swallow away from us and furnish Schmitt-Schmitt with the very means he wants to go after the treasure, with no chance of being followed?"

"Dave, have you told Captain Broadbeam about all this?" inquired Bob anxiously.

"I haven't had the chance. I learned what I have told you only in the past hour," responded Dave. "As soon as we return to the Swallow, though, I shall warn him. I had a purpose in coming ashore."

"Are we to help you, Dave?" asked Bob.