eason, which is by way of manoeuvring, as I have
said. My men are at the pumps or they would be at you. You see you've
got the treasure."

"Oh, only a few hours since," I said lightly. His fang showed.

"That's so. But so far as my men know you've had it all along. Now I
wonder where you hid it? Perchance in a steward's pantry, doctor?"

"Very likely," I assented.

His sombre eyes, which never smiled, scrutinised me.

"I'd put my shirt on it that 'twas you, doctor," he said presently.
"What a man you are! It couldn't be that worm, Pye, naturally; so it
must be you. I'm nuts on you."

I rose. "I'm afraid, Holgate, you can't offer any terms which would be
acceptable," I said drily.

"Well, it's a fair exchange," he said. "I guess I can keep my men aloof
for a bit, and we can get her off. There's not much the matter with the
yacht. I'll land your party on the coast in return for the boodle."

"The Prince would not do it," I answered. "Nor would I advise him to do
so--for one reason, if for no other."

I spoke deliberately and looked him in the face fully.

"What may that be?" he asked, meeting my gaze.

"You would not keep your word," I said.

He shook his head. "You're wrong, doctor, you're wholly wrong. You
haven't got my measure yet, hanged if you have. I thought you had a
clearer eye. What interest have I in your destruction? None in the
world."

"Credit me with some common sense, Holgate," I replied sharply. "Dead
men tell no tales."

"Nor dead women," he said meaningly, and I shuddered. "But, good Lord!
I kill no man save in fight. Surrender, and I'll keep the wolves off
you. They only want the money."

"Which they would not get," I put in.

He smiled, not resenting this insinuation. "That's between me and my
Maker," he said with bold blasphemy. "Anyway, I'm not afraid of putting
your party at liberty. I know a corner or two. I can look after myself.
I've got my earths to run to."

"It's no use," I said firmly.

"Well, there's an alternative," he said, showing his teeth, "and that's
war; and when it comes to war, lives don't count, of either sex; no, by
blazes, they don't, Dr. Phillimore!"

He stood up and faced me, his mouth open, his teeth apart, and that
malicious grin wrinkling all but his smouldering feral eyes. I turned
my back on him without a word and descended to the deck. I had not a
notion what was to be done, but I knew better than to trust to the
ravening mercies of that arch-mut