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" after the treasure!" cried Dick.

"Yes. He wants it both for himself and for his nephew, Tad Sobber. He claims that the revolutionists took it from a ship belonging in part to his brother and consequently he has as much right to it as has Mrs. Stanhope."

"But that isn't so, is it?" asked Sam.

"No; the treasure, if it is found, belongs to Mr. Stanhope's estate absolutely—that is, to Mrs. Stanhope, Dora and the Lanings. The fact that Silas Merrick had an interest in the ship at the time of the stealing of the wealth cuts no figure at all."

"What is Sid Merrick doing?" asked Tom.

"He has been working in secret, looking for Bahama Jack and the Spaniard, Doranez. I found out that he had one talk with Bahama Jack, but the sailor did not like Merrick and told