t Fate has not been of too great kindness to us, for we could not
uncover the so precious lodestone which drew us all to this desolate
corner of the world. Fate intended we should wait until the honorable
_Cohasset_ should arrive.

"You see, the translation of the scarlet writing which the eminent and
worthy Smatt furnished us, after the occasion of your unfortunate
defection, was lost in the wreck. We had, we thought, a memory of
truthfulness of the paper, for we had read it muchly. We were
mistaken. We have not discovered the ambergris, though we have
searched with industriousness.

"We have also searched the ship for the original writing. We have not
as yet obtained it. The young woman has informed us with much
readiness of a place where the paper is. But there are certain
reasons--" Ichi glanced at Carew--"why we may not test the truth of
Miss Le Moyne's statement.

"So, we look to you, my dear Mr. Blake, to enlighten us, to dispute to
verify the young woman's words. We ask you, where is the whaling man's
writing? And before you give answer, I would with much earnestness beg
of you to reflect that Fate is undoubtedly with us, that you and yours
have not favor with the gods. It is wisdom to accept Fate! And
reflect also, please, that the young woman's immunity from--let us
say--physical persuasion to speak, does not extend to your respected
self. And bear in mind, please, that the throat-hold you have already
experienced is by no means the hold of most painfulness, out of the
several score my Moto is of expertness in applying. So--where is the
code?"

"Come, spit it out!" growled Carew.

Martin reflected, though not upon Fate, as the Japanese advised. He
knew he must speak. Moto was quietly massaging his deadly fingers, and
Martin did not relish the torture he knew those digits could inflict.
But should he speak truth?

He wondered if Ruth had really answered their question, and if she had
told them truly where the writing was. One thing vastly cheered
him--he gathered from Ichi's words that Ruth was safe from molestation
so far. He decided he had best tell them the truth. It would not help
them, and it could not harm Little Billy, for poor Billy was gone.

"Billy Corcoran has the code," he said. "I saw him place it in his
pocket last night."

"Ah--so!" exclaimed Ichi. He exchanged a significant glance with
Carew. "What unfortunateness! Just as the young woman said!"

"Little Billy,