" said Mamma. "Poor Lilly, I am
so sorry for you."

"And to think it was all my own carelessness," sobbed Lilly. "My dear
watch and chain--there was the chain too, Mamma."

But Lilly was so seldom careless, and even if she had been so for once,
it was in the service of others, that no one would let her blame
herself, and all the family joined to try to console her.

"There is one chance," said Bill to Humphrey, when they were
alone,--their Mother and elder sisters having gone out for the
afternoon,--"the watch is heavy, and the sea is calm. It _may_ be left
there when the tide goes back. Let's see--it will be high tide by about
five, and low again by eleven. Those stones should be uncovered by ten
o'clock, and it is bright moonlight just now. I tell you what, Humphrey,
we'll get Mamma's leave to sit up later to-night, and we'll go off to
the shore and have another try for the watch and chain."

Humphrey's eyes sparkled with sympathy.

"We'll say nothing to Lilly--it would be cruel to raise her hopes again
on such a chance," he said. "We'll only tell Mamma."

The plan was carried out. At ten o'clock that evening, just as poor
Lilly was going to bed, and thinking sadly how strange it seemed to have
no watch to wind up, two small figures might have been seen in the
moonlight, carefully picking their way among the stones over which the
little waves were still softly lapping, for the special group of small
rocks they were in search of was not yet uncovered.

It was more difficult than they had expected to find the exact spot. The
moonlight and the sheen it cast on the water were rather dazzling. The
boys crept along slowly and carefully.

"I say, what a beautiful night it is," said Bill. "It's a good thing the
watch is a gold one; if it were silver there wouldn't be much chance of
seeing it--everything looks silver, and--"

But Humphrey interrupted him.

[Illustration]

"This is the place--I'm sure it is--look, the smooth sand just beyond is
where the girls jumped in, and--"

In his turn he was interrupted.

"You're right," cried Bill, "and--I do believe--no, there's a little
wave hiding it again--now, look, Humphrey--_isn't_ there something
glittering still more than the wet stones, down there--on that smooth
flat rock?"

Yes--another wave or two came gently lapping in, as if to say good-bye
to the treasure they had been playing with, and then the boys stepped
forward over the slippery stones, and Bill sto