Well, we have a good craft under our feet."

"She steers wonderfully easily," replied the solicitor. "She's a beautiful boat. I would not mind crossing the Atlantic in her."

"I should think not," said the proud owner. "But look at that vessel across your lee-bow, Carew. What the dickens are they up to on board of her? She's yawing all over the place. First I thought she was on the port-tack; then she seemed as if she was in stays; and now—ah, I see it—she is hove-to."

"She is a small brig," said Carew. "Get the glasses up and see what you can make of her."

Allen dived below, brought up the binoculars, and scanned the vessel. "By Jove!" he cried, "she's in a nice mess. Her bowsprit is carried away, her foretopmast too, and her jib's streaming away like a flag. Hallo! and part of her stem and bulwarks have gone."

"Collision." It was Jim's voice. He had just come on deck, and his quick eye at once realised the brig's mishap. Then he looked at her intently for some moments, and spoke again, in eager tones for him—

"Derelict."

"So she is," cried Allen. "We'll get out the boat and board her. Do you think the sea is too high, Jim?"

Jim said nothing. He was quite ready to risk his life in a cockle-shell in a heavy sea, as all fishermen of the Doggerbank must be. He was not the man to refuse to do what his employer wished, unless the danger were very great indeed. He looked round at the sea, then nodded his head affirmatively.

"I don't think it's safe," said Carew. "In the first place, see how low that brig is in the water; she may go down at any moment, and the sea is very tricky to-day. I grant you it does not seem so very rough just now, but every half-hour or so there have been some rather dangerous rollers. One passed by us just before you came on deck."

But Allen's spirit of adventure was up. "Oh, nonsense!" he cried; "I'm going to see what she is. She may be worth standing by for salvage. Run down a bit nearer to her—that's it. Now let's heave-to—so. Now overboard with the dinghy, Jim. You stay behind and mind the yacht, Carew."

Jim and Allen waited for a "smooth," seized the dinghy, dexterously launched her, and leaping in nimbly, pulled away from the yacht—a feat that looks easy on paper, but requires nerve and skill to perform in a heavy sea.

"If you drift away too far, let draw your jib and sail up to us," shouted Allen, as he went away.

Carew stood on the deck of the yacht, which now rose and fell on the seas with the easy motion of a vessel that is hove-to, and watched the tiny boat, so frail and yet so buoyant, so far safer than she seemed, as she leapt from wave to wave.

The dinghy was close to the brig. In another moment the men would have boarded her, when Carew perceived, to his horror, a huge roller coming up—a steep mass of water, with overhanging, breaking crest, such as are met with on the edge of shallows. It reached the yacht and hurled her high up; then dropped her again into the trough of the sea with a shock almost as violent as if she had struck a rock. The giant wave thundered by the sturdy little vessel without injuring her. But the dinghy—where was she?

Carew strained his eyes in her direction. First the boat was hidden from him by the intervening wave; then he saw her for a moment floating on the top of a sea, some forty yards away, bottom up. He thought, too, he could distinguish a man's head in the water near her. The derelict had disappeared. Waterlogged as she was, it had only needed that last great sea to send her down bodily.

But all this while his two companions were drowning. Why did Carew stand there idle? He was sailor enough to know his duty. He could have sailed the yacht close to the men, thrown a life-buoy to them, and have possibly succeeded in dragging them on board. He stood on the deck, as if dazed. Had he lost his head for a time? He only hesitated for two or three seconds, but they were invaluable—then it was too late!

A sudden squall of wind and rain swept down upon the sea, and all was obscured in a whirling smoke of spray and vapour. It was impossible to see even a few yards through it; and when the squall had passed, there were no men and no dinghy to be seen.

The dark and stormy night settled down upon the waters, and Henry Carew was left alone in the middle of the North Sea!

CHAPTER III

"Am I a murderer?"

So asked of his conscience, in fear and trembling, Henry Carew, as he stood alone upon the deck of the labouring vessel, surrounded by a waste of tumultuous waters.

"Not a murderer!" he cried aloud. "Oh no, not that!"

Then he argued with himself. "Had I done all that a man could, I think I should have been unable to save them. True, I lost my presence of mind. I did not stir a hand to help them; but that is not murder. Poor Allen! poor Allen! But no; this is a morbid fancy. At least I am innocent of that crime."

He looked round at the wild sea, invisible on that starless night save for the white foam that hissed on the tops of the waves.

"And now to make the best of my position. How fortune has turned! I, who two days back was surrounded by dangers, have nothing to fear now."

Then he broke into a wild laugh, not of merriment or exultation, but a sort of hysterical effervescence that came of a mind that had long been tasked beyond its strength by violent emotions.

But he fully realised what a great advantage the loss of his two companions signified for him. Yes, even at that moment when he beheld them drowning before him, the profit their death would bring him had flashed across his brain. Little wonder that he asked his conscience that terrible question, "Am I a murderer?"

How simple his course seemed now! It needed little thought to decide on it. He knew that Allen was accustomed to undertake long cruises, and therefore would not be missed for some time. Again, the barrister was somewhat careless in his correspondence; so the fact of his neglecting to write to his friends would surprise and alarm no one. How easy, then, for Carew to impersonate him! He would sail the yacht into some Dutch port—no very difficult task; and once there, he could rely on his wits to make the most of the opportunities chance should throw in his way. Most probably he would sell the yacht and take a passage on some vessel bound for a South American harbour. Like most educated fugitives from justice, he turned to the Argentine Republic as being the safest of sanctuaries.

Carew's eyes, accustomed to observe the signs of the weather, told him that the wind was likely to freshen; so he set about making himself as comfortable as possible for the night. He lowered the foresail, and still further reduced the mainsail by tricing up the tack. Then, with jib-sheet hauled to windward and tiller lashed, the yacht lay hove-to. After watching her for a few minutes, Carew saw that she was behaving admirably, and that he could with safety stay below the whole night if he chose, and leave the little vessel to take care of herself.

"It will have to blow a good deal harder to hurt her," he thought; "it's only collision I have to be afraid of now. Well, I can considerably lessen the chances of that."

So he went below, found the side-lamps, lit them, and fastened them to the shrouds.

So dark had become the night that nothing could be distinguished from the yacht's deck, save when, as she rolled from side to side, the port and starboard lights cast an alternate ruddy and sickly green glare on the foaming water. To be out in the North Sea on so small a craft during a gale is