rested his chin in his hand.

"We have considered your letters, and my partner, Mr. Bull, agrees that,
if we can come to terms, your suggestion has some advantages," he said.

"The advantages for your clients are obvious," Cartwright remarked.

The other smiled. "They paid out a good sum when _Arcturus_ was wrecked,
and would frankly like to get something back. Well, we understand you
are willing to buy her, _as she lies_."

"At my price! I'll give you a check when the agreement's signed."

"Then, I expect you have made some calculations and know all about the
efforts to float the wreck. If we sell her to you, the job is yours, but
I admit some curiosity. Why do you expect to float her when the salvage
company failed?"

"For one thing, they started the job on extravagant lines," Cartwright
replied. "They sent out two first-class tugs and a number of highly-paid
men; they ought to have hired negro laborers at the spot. The surf is
often bad, they could only work when it was calm, and while they were
doing nothing, wages mounted up. So did their bills for the coal they
must bring from Sierra Leone, where coal is expensive. Then they were
bothered by fever and were forced to send men home. They saw the
contract would not pay and let it go. The job was not impossible; it was
costing too much."

Mr. Morse agreed that Cartwright's statement was plausible and probably
accurate, but thought he rather labored his argument.

"You mean to use another plan?" he said.

"My outfit will be small and cheap. This has the advantage that when my
men can't work, I won't pay much for wasted time. All the same, my risk
is obvious. The thing's a rash speculation, on which I can't embark
unless you are satisfied to take a very small price."

For a few moments the ship broker pondered. Cartwright's line was the
line a man who wanted to buy something cheap would take. All the same,
Mr. Morse did not altogether see why he wanted to buy the wreck.

"What about the cargo?" he suggested. "Of course, you understand that I
have no authority to sell this; you noticed the wording of our original
advertisement? 'And for the salving of the cargo,' Precisely it is on
that basis alone that the cargo underwriters will deal. Together with
your offer for the steamer as she lies, you must accept a percentage of
the value of the cargo you save."

"What is the cargo?"

"She carried palm-kernels in the forehold; I expect they have fermented
and rot