Matt's keen eyes detected a black spot on the water, but before the boat could reach it the spot had disappeared.

"He's gone down!" gasped Matt. "If Jurgens' scheme has caused Holcomb to lose his life, the prospect will look pretty dark for him."

"Jurgens is bound to come to some bad end," declared Townsend. "I've known him for two or three years, and he has always been crafty and unscrupulous. But I don't think he'll ever hang for the drowning of Holcomb. If my eyes show the situation clearly, Holcomb has just come to the surface again—and those in the boat have got hold of him."

This was the way it appeared to Matt, and that both he and Townsend were correct was presently proved by the rowboat turning back in the direction of the wharf.

"Did you get him, McMillan?" called Townsend, as the boat came close.

"Yes," was the officer's response. "He's full of water, and unconscious, but there's plenty of life in him. We'll have him all right in a brace of shakes."

Holcomb, in nothing but his underclothes, was lifted to the pier. The men in the boat climbed after him, and he was rolled and prodded until he was able to open his eyes and speak.

"That's enough for us, Matt," said Townsend. "Let's go to your hotel. The idea that darted into my mind a little while ago is growing on me, and I'd like to put it up to you and hear what you think about it."

Matt, wet and uncomfortable, was also anxious to get to his hotel. Not only that, but he was curious to learn what it was that Townsend, otherwise Captain Nemo, Jr., had on his mind.