"Why delay?" said Macloud. "Why not go to-night?"

"It's a long journey around the Bay by rail--I'd rather cross to Baltimore by boat; from there it's only an hour's ride to Annapolis by electric cars. And there isn't any boat sailing until day-after-to-morrow."

"Where's the map?" said Macloud. "Let me see where we are, and where Annapolis is.... Hum! we're almost opposite! Can't we get a boat in the morning to take us across direct--charter it, I mean? The Chesapeake isn't wide at this point--a sailing vessel ought to make it in a few hours."

"I'll go you!" exclaimed Croyden. He went to the telephone and called up Dick. "This is Geoffrey Croyden!" he said.--"I've a friend who wants to go across the Bay to Annapolis, in the morning. Where can I find out if there is a sailing vessel, or a motor boat, obtainable?... what's that you say?... Miles Casey?--on Fleet Street, near the wharf?... Thank you!--He says," turning to Macloud, "Casey will likely take us--he has a fishing schooner and it is in port. He lives on Fleet Street--we will walk down, presently, and see him."

Macloud nodded assent, and fell to studying the directions again. Croyden returned to his chair and smoked in silence, waiting for his friend to conclude. At length, the latter folded the letter and looked up.

"It oughtn't to be hard to find," he observed.

"Not if the trees are still standing, and the Point is in the same place," said Croyden. "But we're going to find the Point shifted about ninety degrees, and God knows how many feet, while the trees will have long since disappeared."

"Or the whole Point may be built over with houses!" Macloud responded. "Why not go the whole throw-down at once--make it impossible to recover rather than only difficult to locate!" He made a gesture of disbelief. "Do you fancy that the Duvals didn't keep an eye on Greenberry Point?--that they wouldn't have noted, in their endorsements, any change in the ground? So it's clear, in my mind, that, when Colonel Duval transferred this letter to you, the Parmenter treasure could readily be located."

"I'm sure I shan't object, in the least, if we walk directly to the spot, and hit the box on the third dig of the pick!" laughed Croyden. "But let us forget the old pirate, until to-morrow; tell me about Northumberland--it seems a year since I left! When one goes away for good and all, it's different, you know, from going away for the 

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