atiently.

"I don't think we need worry," he repeated with a trace of aggression in
his manner. "Let's get on to business. Have you heard from Archer?"

Mr. Coburn drew a paper from his pocket, while Hilliard instinctively
bent forward, believing he was at last about to learn something which
would throw a light on these mysterious happenings. But alas for him!
Just as the manager began to speak he heard steps on the gangway which
passed on board and a man began to climb the starboard ladder to the
upper deck.

Hilliard's first thought was to return to his hiding place under the
boat, but he could not bring himself to go so far away from the center
of interest, and before he had consciously thought out the situation he
found himself creeping silently up the ladder to the bridge. There
he believed he would be safe from observation while remaining within
earshot of the cabin, and if anyone followed him up the ladder he could
creep round on the roof of the cabin to the back of the chart-house, out
of sight.

The newcomer tapped at the captain's door and, after a shout of "Come
in," opened it. There was a moment's silence, then Coburn's voice said:

"We were just talking of you, Henri. The skipper wants to know--" and
the door closed.

Hilliard was not long in slipping back to his former position at the
porthole.

"By Jove!" Bulla was saying. "And to think that two years ago I was
working a little coaster at twenty quid a month! And you, Coburn; two
years ago you weren't much better fixed, if as well, eh?"

Coburn ignored the question.

"It's good, but it's not good enough," he declared. "This thing can't
run for ever. If we go on too long somebody will tumble to it. What we
want is to try to get our piles made and close it down before anything
happens. We ought to have that other ship running. We could double our
income with another ship and another depot. And Swansea seems to me the
place."

"Bulla and I were just talking of that before you came aboard," the
captain answered. "You know we have considered that again and again,
and we have always come to the conclusion that we are pushing the thing
strongly enough."

"Our organization has improved since then. We can do more now with less
risk. It ought to be reconsidered. Will you go into the thing, skipper?"

"Certainly. I'll bring it before our next meeting. But I won't promise
to vote for it. In our business it's not difficult to kill the goose,
etcetera."