interest and value as might be found in the more accessible levels of the ocean-bed. The rights of the invention were to be acquired for a matter of eighteen hundred francs, and the apparatus for a few thousand more. The Duchess of Dulverton was rich, as the world counted wealth; she nursed the hope of being one day rich at her own computation. Companies had been formed and efforts had been made again and again during the course of three centuries to probe for the alleged treasures of the interesting galleon; with the aid of this invention she considered that she might go to work on the wreck privately and independently. After all, one of her ancestors on her mother’s side was descended from Medina Sidonia, so she was of the opinion that she had as much right to the treasure as anyone. She acquired the invention and bought the apparatus.

Among other family ties and encumbrances, Lulu possessed a nephew, Vasco Honiton, a young gentleman who was blessed with a small income and a large circle of relatives and lived impartially and precariously on both. The name Vasco had been given to him possibly in the hope that he might live up to its adventurous tradition, but he limited himself strictly to the home industry of adventurer, preferring to exploit the assured rather than to explore the unknown. Lulu’s intercourse with him had been restricted of recent years to the negative processes of being out of town when he called on her and short of money when he wrote to her. Now, however, she bethought herself of his eminent suitability for the direction of a treasure-seeking experiment; if anyone could extract gold from an unpromising situation it would certainly be Vasco—of course, under the necessary safeguards in the way of supervision. Where money was in question Vasco’s conscience was liable to fits of obstinate silence.

Somewhere on the west coast of Ireland the Dulverton property included a few acres of shingle, rock, and heather, too barren to support even an agrarian outrage, but embracing a small and fairly deep bay where the lobster yield was good in most seasons. There was a bleak little house on the property, and for those who liked lobsters and solitude, and were able to accept an Irish cook’s ideas as to what might be perpetrated in the name of mayonnaise, Innisgluther was a tolerable exile during the summer months. Lulu seldom went there herself, but she lent the house lavishly to friends and relations. She put it now at Vasco’s disposal. "It will be the very place to practise and experiment with the salvage apparatus," she said. "The bay is quite deep in places, and you will be able to test everything thoroughly before starting on the treasure 

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