would sell it, he thought, to better advantage by sending it to Australia or Europe.

Soon after its discovery he had set his people to work to clean and polish it One day he saw coming towards him a man, who from his huge figure he knew must be Larmer, the beachcomber.

"I say, boss," said the man roughly, "let's have a look at that cannon you've found, will yar?"

"There it is," said Challoner quietly, pointing to his boat-house, but not deigning to accompany the beachcomber and show him the weapon.

Larmer made a brief but keen inspection, and then walked into the trader's room and, unasked, sat down.

"It's as good as new," he said. "What do you want for it?"

"I will not sell it," replied the trader coldly, eyeing the beachcomber steadily, "at least to no one in Ponapé. There is too free a display of and use of arms here as it is," and he looked pointedly at the brace of heavy Colt's revolvers in his visitor's belt.

A scowl darkened Larmer's face. "I'll give you a hundred dollars for the thing," he said. "I want it, and I mean to have it" And he rose and dashed his huge hand down upon the table.

Challoner was unarmed, but his face betrayed neither fear nor any other emotion. He was standing with his back to the doorway of his bedroom. A thick curtain of navy blue calico concealed the interior of this room from the view of any one in the living room, and Larmer had seen no one but the trader about.

For some few seconds there was silence; the beachcomber, with his clenched fist still on the table, was trying to discover whether the man before him was intimidated. Challoner stood unmoved.

"Yes," began Larmer again, "I want that cannon. Sru, the chief of Kiti, an' me is going on a little war-party again. But I'll pay you for it."

"And I tell you that I won't sell it. Least of all to a man like you, who would use it for murder."

The beachcomber's hand went to his belt—and stayed there, as the trader stepped aside from the doorway and he saw a rifle pointed at his heart. It was held by the trader's wife.

"Put up your hands," said Challoner, with a contemptuous laugh. "And now listen to me. I want no quarrel with you—don't force one on me. Now clear out."

Without a word the baffled man turned away. But the look of savage hatred that gleamed in his fierce eyes told Challoner that he had made a dangerous enemy. And only a few days passed before he heard from the natives that Larmer said he would have his revenge—and the brass gun as well—before many months were over.

But the trader, though apparently taking no heed, was yet watchful. His influence with the natives of the Jakoits district was great, for they both liked and trusted him as a just and honourable man, and he knew that they would rally round him if Larmer attempted either to carry off the gun or do harm to him.

For some months matters went on at Jakoits very quietly, and the last of the whaling fleet having sailed, Challoner and Dawson went about their usual work again, such as trading along the coast in their whaleboats and storing their cocoanut oil in readiness for the Mocassin, the trading ship which visited them once a year, and was now due.

Although living only a few miles apart from each other, the two did not very often meet, but Challoner was one day surprised to see Dawson's boat pulling into the beach, for he had had a visit from his friend only the previous evening. The moment the boat touched the sand Dawson jumped out, and Challoner at once saw by the anxious expression on his face that something was wrong.

He soon learnt Dawson's news, which was bad enough. The Mocassin had run ashore in the night at a place five miles away from Dawson's village, and it was feared she would become a total wreck unless she could be lightened and floated over the reef into smooth water. The captain had sent an urgent message for aid, and in less than half an hour the two men were on their way to the wreck, accompanied by nearly