All the youthful divers prepared to spring into the water as soon as the bit of money left her hand. The lithe young leader poised himself upon the very edge of his boat.

“Ready!” called out the girl in Portuguese. “It is a hundred reis piece, so do your best.”

She gleefully waved her hand back and forth, then, just as she was about to release the coin, something bright and glittering slipped from her wrist and fell into the water.

It was a bracelet.

A little scream came from the girl, there was a commotion among the group of plebes, then one was seen to vault lightly over the rail and strike the water in a neat dive.

It was Clif!

In an instant there was great excitement on board the practice ship. The loud splash was heard fore and aft, and a rush was made for that side.

Some one raised a cry of “Man overboard!”

The officer of the deck sprang upon the gangway with a life-preserver, and the crew detailed to the lifeboat ran to their stations at the boatfalls.