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", Beeby, and how are you?" asked the young milHonaire, when the late arrival had somewhat recovered his breath, and had slumped down in a steamer chair, with a sigh of relief.

"Fine and dandy. Came pretty near not making it, though; didn't I? I'd been visiting some relatives, here in Savannah, and they kept me until the last minute. I tried to run, but"

"The less said about your running the better, Innis. Let me shake hands with the late Mr. Beeby," and Paul Drew joined the group about the fat cadet.

"I may be a bit late, but I'm far from being a dead one, Paul. Say, Dick, my boy, it looks very fit here," and the new guest gazed about the yacht with marked approval.

"Yes it'll do for a starter," admitted the owner of the Albatross. "We've hardly got settled down to the run of things yet."

"It looks all right to me," went on Beeby. "She's a pretty boat, and I'm glad I didn't miss her. Got much of a party aboard?"