For a few minutes they stood, then Nancy caught sight of the boat.
"Oh, there's the wreck! Why, it's only a little boat."
"Of course it is! What else did you think? It's really some life boat that has been put off from a wreck, and it may be full of treasures!"
Cautiously they worked their way to it, panting with excitement. What were they about to discover?
"See," said Toby breathlessly, "the anchor rope had broken and caught among the rocks! I wonder we never saw the boat here at high tide—it would be visible then!"
"I hope—oh!" Nancy's voice was full of disappointment.
"What?"
"Why, it's only Rowan's old Lily! It isn't a wreck at all! It was on the beach this morning!"
The children stood looking blankly at the boat.
"There's something moving!"