We looked at each other in horror-stricken silence, while the merchant, raising his arms above his head, chanted in a sepulchral voice:

“And the phantom said, as he rose from the wave,

He shall know me in sooth!

I will go to my friend, gay, smiling and fond,

As in our first youth!”

“What do you see?” said he.

“I see the phantom advance; he lifts his veil—’tis Francis Villiers! he approaches the table—he writes!—’tis his signature!”

“Are you afraid?”

A fearful moment of silence ensued; then the student replied, but in an altered voice:

“I am not.”