time came for him to turn the tables
and secure the satchel for himself.

Perhaps, all Katz had helped Clancy for was the hope that just such an
opportunity would come his way. Now that the opportunity had come, he
was making the most of it.

"Katz is doing you dirt, eh?" rumbled the captain, turning his eyes upon
Clancy.

"He forgets how I saved him at your bungalow," said the motor wizard.

"If you pulled him out of that scrape, then, keelhaul me, you deserve
all he gives you!"

Katz laughed in ugly fashion.

"I'll get back what you and Wynn stole from me!" he remarked, stooping
over to pick up the satchel.

As he bent down, two things happened. They happened very suddenly, too:

Clancy and Wynn sprang toward Katz at the same time--Clancy for the
satchel and Wynn for the revolver. The work of both was excellent, for
each got what he went after.

The approaching boat, by that time, was close alongside. In another
moment, Hogan and Wynn would be supplied with reenforcements.

"Give me that!" yelled Katz, jumping toward Clancy.

Here the captain took a part in the combat. Bound though he was, he
swung his feet upward suddenly and powerfully. Katz was struck in the
side and toppled to the deck.

Four men came bounding over the bulwarks. "Captain!" they called; "where
are you, captain?"

"Here!" yelled the captain. "Make prisoners of these two fellows, Katz
and Clancy. Katz is on the deck, there, and Clancy---"

Clancy was just going over the side and into the water, so it was
impossible to make a prisoner of him. He took the valuable satchel
along.

"Get back into that boat, two of you," bellowed Hogan, "and snake that
red-headed streak of lightning out of the water and back aboard the
_Sylvia!_ Look alive, now! A hundred-dollar bonus to the man who
captures Clancy and recovers the satchel he's got with him!"

Two of the men flung themselves into the boat and put off. The other two
gave their first attention to Bob Katz, and bound him with the rope
which was taken from the captain. So Katz, as it will be seen, was left
in the hands of his enemies, thereby getting vastly more than he had
bargained for.

Meanwhile, the motor wizard was swimming. He was perfectly at home in
the water, and, even though he was handicapped with a game shoulder, he
found no difficulty in keeping afloat with the satchel, and in spite of
the weight of his wet clothes.

"Clancy!" called a voice across the water. "Where are y