ands and
stamped the deck. Where was the first of September now? How was the
firm to--to--what was it Sir Archibald had said?--yes; how was the
firm to "liquidate its obligations" on the appointed day and preserve
its honour?

"By gettin' the _Spot Cash_ afloat," said Skipper Bill, tersely.

"And a pretty time we'll have," groaned Archie.

"I 'low," Bill drawled, "that we may be in for a prettier time
still."

"Sure, it couldn't be worse," Billy Topsail declared.

"This here," Bill explained, "is Jolly Harbour; an' the folk o' Jolly
Harbour isn't got no reputations t' speak of."

This was hardly enlightening.

"What I means," Skipper Bill went on, "is that the Jolly Harbour folk
is called wreckers. They's been a good deal o' talk about wreckers on
this coast; an' they's more lies than truth in it. But Jolly Harbour,"
he added, "is Jolly Harbour; an' the folk will sure come swarmin' in
punts and skiffs an' rodneys when they hear they's a vessel gone
ashore."

"Sure, they'll give us help," said Billy Topsail.

"Help!" Skipper Bill scornfully exclaimed. "'Tis little help _they'll_
give us. Why, b'y, when they've got her cargo, they'll chop off her
standing rigging and draw the nails from her deck planks."

"'Tis a mean, sinful thing to do!" cried Billy.

"They live up to their lights, b'y," the skipper said. "They're an
honest, good-hearted, God-fearin' folk on this coast in the main; but
they believe that what the sea casts up belongs to men who can get it,
and neither judge nor preacher can teach them any better. Here lies
the _Spot Cash_, stranded, with a wonderful list t' starboard. They'll
think it no sin to wreck her. I know them well. 'Twill be hard to keep
them off once they see that she's high and dry."

Archie began to stamp the deck again.

* * * * *

When the dawn broke it disclosed the situation of the schooner. She
was aground on a submerged rock, some distance offshore, in a wide
harbour. It was a wild, isolated spot, with spruce-clad hills, which
here and there showed their rocky ribs rising from the edge of the
water. There was a cluster of cottages in a ravine at the head of the
harbour; but there was no other sign of habitation.

Evidently the schooner's deep list betrayed her distress; for when the
day had fully broken, a boat was pushed off from the landing-place and
rowed rapidly towards her.

"Here's the first!" muttered Skipper Bill. "I'