A door had opened in the round under-surface, and a figure, whose gas-suit made it a bloated caricature of a man, was lowered from beneath in a sling. From the stern of the ship gaseous vapor belched downward to spread upon the surface of the water. The wind was bringing the misty cloud toward them. "The gas!" said McGuire despairingly. "It will knock us out, and then that devil will get us! They'll take us back! Our last chance--gone!" "God help us!" said Sykes weakly. "We can't--even--die--" His feeble strokes stopped, and he sank beneath the water. McGuire's last picture as he too sank and the waters closed over his head, was the shining ship hovering beyond. He wondered only vaguely at the sudden whirling of water around him. A solid something was rising beneath his dragging feet; a firm, solid support that raised him again to the surface. He realized dimly the air about him, the sodden form of Professor Sykes some few feet distant. His numbed brain was trying to comprehend what else the eyes beheld. A metal surface beneath them rose higher, shining wet, above the water; a metal tube raised suddenly from its shield, to swing in quick aim upon the enemy ship approaching from above. His eyes moved to the ship, and to the man-thing below in the sling. Its clothes were a mass of flame, and the figure itself was falling headlong through the air. Above the blazing body was the metal of the ship itself, and it sagged and melted to a liquid fire that poured, splashing and hissing, to the waters beneath. In the wild panic the great shape threw itself into the air; it swept out and up in curving flight to plunge headlong into the depths.... The gas was drifting close, as McGuire saw an opening in the structure beside him. The voice of a man, human, kindly, befriending, said something of "hurry" and "gas," and "lift them carefully but make haste." The white faces of men were blurred and indistinct as McGuire felt himself lowered into a cool room and laid, with the unconscious form of Sykes, upon a floor. He tried to remember. He had gone down in the water--Sykes had drowned, and he himself--he was tired--tired. "And this,"--the thought seemed a certainty in his mind--"this is death. How--very--peculiar--" He was trying to twist his lips to a weak laugh as the lighted ports in the wall beside him changed from gold to green, then black--and a rushing of torn waters was in his ears.... (_To be continued_) * * * * * ASTOUNDING STORIES _Appears on Newsstands_ THE FIRST THURSDAY IN EACH MONTH The Sea Terror _By Captain S. P. Meek_ The trail of mystery gold leads Carnes and Dr. Bird to a tremendous monster of the deep. [Illustration: "_The mass hung over the ship._"] "I beg your pardon, sir. I'm looking for Dr. Bird."