"It is the biggest haul, then, we have made this season," remarked Judd, with open eyes.

"I rather think so," was Budd's emphatic response.

The ambergris was placed in a tub the lads had on board and taken down into the cabin. Then the sloop resumed her cruise, which was now in the direction of the Brenton Reef lightship. From there she went up through the east passage to Newport, where, contrary to Budd's declaration a few hours before, a landing was made.

In the lad's opinion, circumstances sometimes justified an alteration in one's plans, and he was anxious to ascertain if the substance he had found was really the commercial ambergris it was thought to be. So the stop was made, and with a small piece of the substance in hand he went up to a large drug store, and submitted it to the inspection of the proprietor.

The apothecary, after looking at the substance attentively, went into a back room. He was gone so long that Budd began to get impatient; but he, on returning, explained his long absence in these words:

"I have subjected this to every known test, and it proves genuine. Have you much of it? And where did you find it?"

Budd gave a full account of his finding the substance, and stated how much he believed he had. Then he ventured to ask its value.

"It is seldom, in these waters, that so much is found," replied the druggist, "though there was a parallel case with yours a few summers ago on the shore of Cape Cod. As to the amount you will receive for it, that depends on the supply on hand at this time, far the larger portion of this material now used in the country being imported. No retail druggist would want to buy a hundredth part of what you have. But I'll tell you what I am willing to do. We, as you may know, have a branch house in New York City. If you are a mind to leave your find with me, I will try and dispose of it for you."

"What would you ask for your trouble?" asked Budd.

"Well," said the man, smilingly, "I think we ought to have five per cent. of the net amount received."