said, in a loud voice, as he stepped on
board. "She has touched at Madeira."

There was a cheer from the men. It was something to know that a
clue had been obtained, and in a wonderfully short time the Osprey
was under way, and heading for the point of the bay.

"Then they did not stop them there, Major?" George Lechmere asked,
after Frank had stated the news.

"No, the mail did not arrive with the letter in time for Lloyd's
agent to act upon it. The Phantom had sailed some hours before. She
is still under her square yards, and her name has been changed to
the Dragon. She was there on the 21st, and the letter is dated the
30th."

"And today is the 6th," George said. "So he has fifteen days' start
of us, besides the distance to Madeira."

"Yes, she must be among the West Indies long before we can hope to
overtake her--there, or at some South American port."

"Then you have learnt for certain that she has gone that way,
Major?"

"It is not quite certain, but I have no doubt about it. Her papers
say that she is bound for the Cape, which is quite enough to show
me that she is not going there. I think it is the West Indies
rather than South America, for if she went to any Brazilian port,
or Monte Video, or Buenos Ayres, she would be much more likely to
attract attention than she would in the West Indies, where there
are scores of islands and places where she could cruise, or lie
hidden as long as she liked.

"Yes, I have no doubt that is her destination. It is a nasty place
to have to search, but sooner or later we ought to be able to find
her. Fortunately the negroes pretty nearly all speak English,
Spanish, or French, and we shall have no difficulty in getting
information wherever there is any information to be had."

Four days later the Osprey anchored off Funchal. The dinghy at once
put off with six water casks, and Frank was rowed ashore in the
gig, and had a talk with his correspondent. The latter, however,
could give him no more information than had been contained in his
letter, except that the white streak had been painted out, and that
the craft carried fourteen hands, all of whom were foreigners. He
could give no information as to whether she would be likely to
touch at either the Canaries or the Cape de Verde Islands, but was
inclined to think that she would not.

"They took a very large stock of water on board," he said, "and a
much larger amount of meat, vegetables and fruit than they would
have