be fixed between yourselves, the Olaf, Captain Petersen—sitting by your side."

Captain Cable turned and gravely shook hands with Captain Petersen.

"Thought you was a seafaring man," he said. And Captain Petersen replied that he was "Vair pleased."

"The cargo is to be transshipped at sea, out of sight of land or lightship. But that we can safely leave to you, Captain Cable."

"I don't deny," replied the mariner, who was measuring Captain Petersen out of the corner of his eye, "that I have been there before."

"You can then go up the Baltic in ballast to some small port—just a sawmill, at the head of a fjord—where I shall have a cargo of timber waiting for you to bring back to London. When can you begin loading, captain?"

"To-morrow," replied the captain. "Ship's lying in the river now, and if these gentlemen would like to see her, she's as handy a—"

"No, I do not think we shall have time for that!" put in the banker, hastily. "And now we must leave you and Captain Petersen to settle your meeting-place. You have your charts?"

By way of response the captain produced from his pocket sundry folded papers, which he laid tenderly on the table. For the last ten years he had been postponing the necessity of buying new charts of certain sections of the North Sea. He looked round at the high walls and the overhanging trees.

"Hope the wind don't come blustering in here much," he said, apprehensively, as he unfolded the ragged papers with great caution.

The fair-haired young man drew forward his chair, and Cable, seeing the action, looked at him sharply.

"Seafaring man?" he inquired, with a weight of doubt and distrust in his voice.

"Not by profession, only for fun."

"Fun? Man and boy, I've used the sea forty years, and I haven't yet found out where the fun comes in!"

"This gentleman," explained the banker, "his Ex—Mr.—" He paused, and looked inquiringly at the white-haired gentleman.

"Mr. Martin."

"Mr. Martin will be on board the Olaf when you meet Captain Petersen in the North Sea. He will act as interpreter. You remember that Captain Petersen speaks no English, and you do not know his language. The two crews, I understand, will be similarly placed. Captain Peterson undertakes to have no one on board speaking English. And your crew, my fren'?"

"My crew comes from Sun'land. Men that only speak English, and precious little of that," replied Captain Cable.

He had his finger on the chart, but paused and looked up, fixing his bright glance on the face of the white-haired gentleman.

"There's one thing—I'm a plain-spoken man myself—what is there for us two—us seafaring men?"

"There is five hundred pounds for each of you," replied the white-haired gentleman for himself, in slow and careful English.

Captain Cable nodded his grizzled head over the chart.

"I like to deal with a gentleman," he said, gruffly.

"And so do I," replied the white-haired foreigner, with a bow.

Captain Cable grunted audibly.

III

A SPECIALTY

A muddy sea and a dirty gray sky, a cold rain and a moaning wind. Short-capped waves breaking to leeward in a little hiss of spray. The water itself sandy and discolored. Far away to the east, where the green-gray and the dirty gray merge into one, a windmill spinning in the breeze—Holland. Near at hand, standing in the sea, the picture of wet and disconsolate solitude, a little beacon, erect on three legs, like a bandbox affixed to a giant easel. It is alight, although it is broad daylight; for it is always alight, always gravely revolving, night and day, alone on this sandbank in the North Sea. It is tended once in three weeks. The lamp is filled; the wick is trimmed; the screen, which is ingeniously made to revolve by the heat of the lamp, is lubricated, and the beacon is left to its solitude and its work.

There must be land to the eastward, though nothing but the spinning mill is visible. The land is below the level of the sea. There is probably an entrance to some canal behind the moving sandbank. This is one of the waste-places of the world—a place left clean on sailors' charts; no one passes that way. These banks are as deadly as many rocks which have earned for themselves a dreaded name in maritime story. For they never relinquish anything that touches them. They are soft and gentle in their embrace; they slowly suck in the ship that comes within their grasp. Their story is a long, grim tale of disaster. Their treasure is vast and stored beneath a weight, half sand, half water, which must ever baffle the ingenuity of man. Fog, the sailors' deadliest foe, has its home on these waters, rising on the low-lying lands and creeping out to sea, where it blows to and fro for weeks and weeks together. When all the world is blue and sunny, fog-banks lie like a sheet of cotton-wool on these coasts.

"Barrin' fogs—always barrin' fogs!" Captain Cable had said as his last word on leaving the Signal House. "If ye wait a month, never move in a fog in these waters, or ye'll move straight to Davy Jones!"

And chance favored him, for a gale of wind came instead of a fog, one of those May gales that sweep down from the northwest without warning or reason.

At sunset the Olaf had crept cautiously in from the west—a high-prowed, well-decked, square-rigged steamer of the old school, with her name written large amidships and her side-lights set aft. Captain Petersen was a cautious man, and came on with the leadsman working like a clock. He was a man who moved slowly. And at sea, as in life, he who moves slowly often runs many dangers which a greater confidence and a little dash would avoid. He who moves slowly is the prey of every current.

Captain Petersen steamed in behind the beacon. He sighted the windmill very carefully, very correctly, very cautiously. He described a half-circle round the bank hidden a few feet below the muddy water. Then he steamed slowly seawards, keeping the windmill full astern and the beacon on his port quarter. When the beacon was bearing southeast he rang the engine-room bell. The steamer, hardly moving before, stopped dead, its bluff nose turned to the wind and the rustling waves. Then Captain Petersen held up his hand to the first mate, who was on the high forecastle, and the anchor splashed over. The Olaf was anchored at the head of a submarine bay. She had shoal water all round her, and no vessel could get at her unless it came as she had come. The sun went down, and the red-gray clouds in the stormy west slowly faded into night. There was no land in sight. Even the whirligig windmill was below the horizon now. Only the three-legged beacon stood near, turning its winking, wondering eye round the waste of waters.

Here the Olaf rode out the gale that raged all through the night, and in the morning there was no peace, for it still rained and the northwest wind still blew hard. There was no depth of water, however, to make a sea big enough to affect large vessels. The Olaf rode easily enough, and only pitched her nose into the yellow sea from time to time, throwing a cloud of spray over the length of her decks, like a bird at its bath.

Soon after daylight the Prince Martin Bukaty came on deck, gay and lively in his borrowed oilskins. His blue eyes laughed in the shadow of the black sou'wester tied down over his eyes, his slight form was lost in the ample folds of Captain Petersen's best oilskin coat.

"It remains to be seen," he said, peering out into the rain and spray, "whether that little man will come to us in this."

"He will come," said Captain Petersen.

Prince Martin Bukaty laughed. He laughed at most things—at the timidity and caution of this Norse captain, at good weather, at bad weather, at life as he found it. He was one of those few and happy people who find life a joy