seemed the most likely one, although the presence of the Mysterious Man was utterly unaccountable. The main point which puzzled Seal, I think, was what he should do with the gold. He regarded the poor old fellow as a gibbering idiot, and had but little to do with him. Customs officers and lunatics were the bluff old seaman’s pet abominations. He would probably have liked to claim the hoard of gold himself if it were not for the existence of one with a prior claim to it, and once or twice he expressed to me an anxiety as to what his owners would say to it all. They were skinflints of the worst type, and would, I expected, probably lay claim to it themselves. Steaming slowly we passed the Gib. and made a straight course for Cape St. Vincent, which we sighted at dawn one rainy morning, then hugging the Portuguese coast we safely passed the mouth of the Tagus, being hailed more than once by other craft, the skippers all asking us with humorous banter what we had in tow. Fortunately the weather had improved greatly, and even as we traversed the Bay of Biscay we had no reason to complain, for the old Seahorse rode proudly in our wake, rocking a good deal on account of its house-like shape, but nevertheless giving Seal the greatest satisfaction. Seahorse “It’ll make ’em open their eyes, doctor, when we tow ’er up the Thames,” he often said, as he paced his bridge and looked at her straining on the hawser. Never a day passed but I occupied myself diligently with the documents and manuscripts that had fallen into my hands, but I am fain to confess that beyond what I have already explained to the reader I discovered absolutely nothing. Although I had passed my final examination and could write M.D. after my name, my book-learning was not sufficiently deep that I could decipher and understand those crabbed old screeds. I showed them to the Mysterious Man, hoping that they would attract his attention and give me some clue to their meaning, but he remained quite passive when he saw them, and turning upon his heel looked out through the round port-hole. I certainly was very anxious to get back to London to obtain some opinion upon the big vellum book in which Bartholomew da Schorno declared there was a secret that would be discovered hereafter. My voyage, besides being a pleasant one, had been full of excitement, for we had found an object the like of which no living eye had seen, together