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the instant after Tom slipped over the side of the Golden Wave, Dan Baxter was too dazed to do more than stare at the spot where he had last seen the boy with whom he had been struggling.

"Gone!" he muttered presently. "Gone!" he repeated and crouched back in the darkness.

The great beads of perspiration came to his brow as he heard rapid footsteps approaching. Would he be accused of sending Tom Rover to his death?

"What's the trouble?" came in the voice of Captain Blossom.

Instead of answering, Dan Baxter crept still further back. Then, watching his chance, he darted into the forecastle.

"Hullo, the rail is broken!" he heard the captain exclaim. "Bring a lantern here, quick!"

A sailor came running with a lantern, which lit up the narrow circle of the deck near the rail and part of the sea beyond.