The hulls seemed ever closer and the lad’s efforts weaker. The Chinaman was a dead weight upon him; if he abandoned the man he could save himself. Would it not be just? He could not hope to save both himself and the Chinaman, therefore, was he not obeying the first law of nature by abandoning the unfortunate man to his fate? But Phil, even with death staring him in the face, dismissed these unnerving thoughts from his mind. He would save the man or drown in the attempt! As he swam manfully ahead, supporting the fully conscious but terrified Chinaman, and casting anxious glances behind him at the fast approaching menace, his heart was gladdened at the sight of the launch standing in boldly between him and the junks, now but a few dozen yards away. Then he saw the boat turn slowly, painfully, toward him in the grasp of the cruel, relentless current which seemed to sweep her down under the yawning whirlpool. He closed his eyes to shut out the sight. If the launch failed to turn inside the distance she would be swept under the mass of shipping and be capsized; then the brave men who had fearlessly taken this risk to save him would all find a watery grave in the river. “She can’t make it!” he gasped despairingly. CHAPTER II AN UNPLEASANT ENCOUNTER Phil had ceased to struggle; his doom was too close upon him to hope to escape it. His one chance was the launch. A low cry of joy burst from him as he saw her turn safely under the overhanging bows of the junks and steam swiftly toward him. Yet he knew that all danger had not passed; the current was still sweeping him down while the boat must keep her headway else she would be carried back under the shipping. The launch loomed above him; he saw her anxious crew gathered in the bow ready to grasp the struggling men as they were swept by on the crest of the flood. He was conscious of strong arms about him, and the next moment he and the rescued Chinaman were safely on board the launch, while she was steaming at full speed for safety away from the treacherous shore. After the rescued Chinaman had been resuscitated, and Phil had recovered from his terrible exertions, he ordered the coxswain to land at the foreign concession. The Chinaman lay on the deck of the launch, fully alive but not showing by word or sign his gratitude to the midshipman who had saved his life at the risk of his own. As the boat stopped at the stone steps of the jetty, the Chinaman arose unsteadily to his feet, grasping the boy’s hand in both of his, then without a word stepped quickly out of the launch and was lost in the night. Phil was so astonished at the man’s action that it was some moments before he realized that a ring had been left in his hand. He examined it eagerly in the dim light of an oil lantern; what was his surprise to find that it was of massive carved gold, set with a green jade stone.