Lord Claymore wanted the money—not that he was avaricious—far from that; but he had numberless schemes in view, and he knew full well that without the gold they could not be carried out.

As the chase was neared, the Spanish colours were seen flying at the peak. Not a shot did she fire. From the squareness of her yards and the whiteness of her canvas, as seen in the dusk of evening, as the “Pallas” got her within range of her guns, it was not altogether certain that she might not prove a man-of-war.

“So much the better,” answered the captain, when Glover and the master gave it as their opinion that she was so. “We shall have more honour, though less gold. We must look out for the gold another time.”

The men were sent to their quarters, and the ship was prepared for action. The chances that the chase would escape were small indeed.

“There’s many a slip between the cup and the lip,” observed Mr Hardman, the second lieutenant, who had experienced the truth of the saying in his own person so often that he seldom failed to give expression to it on every opportunity. Though he numbered many more years than either the captain or first lieutenant, he had not been promoted till some time after them. Sometimes when he foretold a slip, he was mistaken.

“Ready with a gun forward!” exclaimed the captain.

The chase was well within range.

“We don’t want to injure her more than we can help,” he added. “Send a shot past her first. Fire!”

The gloom prevented the shot being seen as it flew on over the surface just free of the chase.

The Spaniards thought that the next, might come in through the stern-windows. Down went her helm; studdingsail booms were cracking away on either side; royal and topgallant sheets were let fly; topsails and courses were clewed or brailed up, and the Spaniard yielded himself to the mercy of his captors.