The Sea-Horse anchored near the light and waited for daylight to pick up the floats.

In the gray of early morning the black mate turned out the crew, leaving the captain below, and, taking the small boat, put off.

It was calm, and the corks were plainly visible. They were promptly hauled aboard, and the sunken kegs stowed until the end of the line was reached.

Here the mate found three floats missing, and, being in a suspicious frame of mind, he looked toward the light, which was still burning, although the rays of the rising sun were colouring the eastern horizon a rosy hue.

"They've got 'em, all right," said he. "If we're quick enough, we might catch 'em—give way hard."

The small boat with three men was headed for the tower; and the Sea-Horse, with her captain now thoroughly awake, lay by for developments.

The big mate lost no time gaining the tower. It was broad day now, and Flanagan had just staggered up the steps into the lantern when the small boat arrived alongside the piles below.

In his befuddled state Flanagan saw nothing, until, after putting the light out, he came stumbling back again. He arrived in the lower room just in time to see the black head and shoulders of the mate emerging upward through the trap-door in the floor.

The mate was not in a good humour; moreover, he had turned out early without eating his breakfast, and his great black head and giant arms seemed supernatural in both vindictiveness and size.

Flanagan thought he had taken too much, and that the horrors were upon him at last. With a yell, he launched himself upon the seaman, taking him at a disadvantage, and endeavoured to smash him back into the void below.