ng a worthless property
on Mr. Bosworth; or, actually what it claimed to be--a rich deposit of
copper ore that seemed to lie in vast quantities among the rocks above
the shore of Hudson Bay, and with shipping facilities at the very door
of the proposed mine.

After all it was Teddy, the explorer, who turned out to be the fortunate
one fated to be the first to glimpse the water. He happened to see a
small opening to one side and ahead, to which he immediately called the
attention of his mates.

"There's the sun glinting on something out there, boys," was the way he
put it, "that looks mighty like water to me. Yes, you can see it seems
to move up and down, just like we've often seen the ocean do over Long
Island way. How about it, Ned; do I count first blood?"

"It's the bay, all right, Teddy," remarked the other, quietly, after
giving one look in the direction Teddy was pointing.

Five minutes later and they stood on the border of the tree line,
staring out over the vast heaving salty sea that they knew must be the
far-famed Hudson Bay.

CHAPTER VII.

THE MYSTERIOUS BLUR ON THE HORIZON.

"I just thought it'd turn out to be a whopper of a yarn!" said Jimmy,
frowning as if grievously disappointed all the same.

"What's that?" asked Frank.

"Why, all that tommyrot about the queer old fleet of boats that vanished
right before your eyes, and then bobbed up somewhere else, like a flock
of submarines, or a school of blooming porpoises," returned the
disgusted one.

At that Jack laughed.

"Why, it sounds like Jimmy really believed the whole thing," he
remarked; "and has been expecting the mysterious fleet at anchor the
very minute he glimpsed Hudson Bay."

"But I did expect to hit on something different from this," said Jimmy.
"Somebody, tell me, would you please, what's so remarkable about this
thing? I've seen many a stretch of salt water that looked just like it,
shore line and all."

"Why not?" observed Ned; "I never thought we'd find Hudson Bay country
any different from other Northern lands. There are the same trees,
moss-covered rocks, peculiar sedge grass, and the like. But don't be so
quick to jump at conclusions, Jimmy. Give me half a chance to take a
look through my field glasses here, and perhaps I can tell you something
interesting."

With those words Ned unslung the glasses, and adjusted the same to his
eyes. The others of the party, standing there knee-deep in the rank
grass that grew a