'It would be very nice for us if it could be managed,' said Captain Carrington with a smile. 'But I suppose it is quite out of the question, Mr Strang?'

'It all depends on what she is, sir,' replied Strang, as he put up his binoculars and focused them on the indistinct patch on the misty horizon.

Presently he put them down.

'She's nothing but a launch,' he said quickly. 'Armed, of course, but probably only a 6-pounder. I'm hanged if I don't try it.'

'Very good,' said Captain Carrington, speaking as calmly as ever. 'I will go back into the boat, and tell my friends. By the bye, how would it do to use us as bait for the trap? If you were merely to submerge, and lie close by with only your periscopes showing, it seems to me that you might manage to take them unawares.'

'I've got a better plan than that, sir,' broke in Ken quickly. 'Put Horan and myself in the boat. Give us some pistols. We'll sham shipwrecked. Most of us can hide in the bottom of the boat. The launch won't have much of a crew. With a rush we might overpower them.'

The boldness of Ken's suggestion made both men gasp. Strang was the first to speak.

'It's a big risk, but it might work. Are you willing, Captain Carrington?'

A grim smile parted the lips of Ken's father.

'Willing! It would make me young again.'