'No, I 'm not,' answered Dunbar, with his usual economy of speech. 'I 'm from Scotland Yard, and I want E. W. Smith on another count. But I 'll come to that some other time. I 'll need to be off now.'

'Your horse is done,' protested Ross, 'and you are pretty well done yourself.'

'I 'm not that far through,' said Dunbar.

'Why not send a wire to Buenos Ayres and wait here until you can get a reply? Purvis may have got on board the train somewhere else, and be at Buenos Ayres now.'

'Yes, that will do,' said Dunbar. He dispatched his telegram by one of the peons, who rode off with it across the camp. In spite of fatigue, Dunbar, with his nervous energy unimpaired, looked as though he would like to have ridden with the telegram himself. Reflecting, however, that there was considerable work still before him, he submitted to stretching himself on a catré and after a short doze and a bath and some breakfast he took up again the thread of his story.

'I 'll not bother you with an account of E. W. Smith's life,' he remarked, 'although there is a good deal in it that would surprise you. I 'll keep to the story of the Rosana as time is short.'

Mr. Dunbar took his faithful friend—his short pipe—from its red-lined case, filled it with tobacco, and began to draw luxuriously.

'The Rosana sprang a leak after her first day out, on her run down the coast, and was lost in twenty fathoms of water. She only carried one boat, and that boat was seen by myself half-burned, but with a bit of her name in gold-leaf still visible on her bows. Tranter was the captain of the boat, and E. W. Smith was clerk and general manager. Every one knew he cheated the company who ran the boat, and cheated the captain too, when he could; and it generally suited him to make Tranter drunk when they were in port. Well, he reaped his profit, and I suppose a good bit of it lies at the bottom of the sea. He was a man who always kept large sums in hand in case of finding himself in a tight place. Did I mention,' said Dunbar, 'that he could not row, though, of course, Tranter could? But Tranter was wanted for steering.'

'I don't understand the story,' said Ross, leaning forward. 'You say that Tranter and this man Purvis, or Smith, escaped from the wreck, and that Purvis could not row?'

'I am coming to that,' said Dunbar, unmoved. 'Observe, the Rosana carried one boat. She had lost her other by an accident, it seems, and the one that remained was not a much bigger one than a dinghy such as men use to go to and from the shore when they are in harbour. Tranter was the first to discover that the Rosana was leaking badly; and the hold was half-flooded before any one knew anything about it, and the Rosana was settling by her head. Smith, it seems, and the captain were armed, or armed themselves as soon as the state of affairs was known; and before the rest of the crew were awake four men were ordered to man the boat and bring her alongside. The hatches were closed down with the rest of the crew still below, and if there was a scuffle two armed men were perfectly capable of keeping order. Smith and Tranter got into the boat, and were rowed ashore in safety. If the whole of the crew had tried to board her there is no doubt about it no one would have been saved, for there were a good many hands on the steamer, and the rush to the one boat would have swamped her. The men who manned the boat and pulled ashore were doubtless glad to save their lives at any price; but they might make it exceedingly unpleasant for the two survivors of the wreck did they make their story known. They were cross-bred natives, whose lives were of no great value to any one but themselves, and there was an easy way for two armed men to silence them on a lonely shore without a soul near.'