He pointed to a placard on the wall above the sacks. The light was almost too dim for reading, but the writing on the placard was very large, and Toby, by standing on one of the bags, was able to make it out. He read it aloud.

"Beware! Hands Off! Whoever Shall Touch
it He Shall Die by the Hand of Lingo!
With a Knife in the Throat! Long Live
King James and the Jolly Roger!"

"There a skull and cross-bones under it," said Toby. "Pirates, as sure as you're born."

"We'd better be getting away from here," said Aunt Amanda.

"Better not speak so loud," said Toby. "How are we to——?"

"S-sh!" said the Old Codger with the Wooden Leg, in a frightened whisper. "Excuse me—look—I saw something under the water-fall. What's that?"

"Stand close back against the wall," whispered Toby, "and don't speak a word."

They crowded back against the wall, alongside of the treasure, and looked towards the water-fall.

A dark object was rising from the shallow water at the foot of the fall. As they watched, another dark object appeared to come through from under the fall and apparently from behind it; and this object rose also from the shallow water near the foot of the fall, and took its place beside the other. One after another, five more of these dark objects came from under the fall and apparently from behind it, and stood upright in the shallow water.