"They're midshipmen," he announced. "Gray and Lambert, of our class, and Haynes and Whipple of the second class." "They've young ladies with them." "Certainly." "Isn't it rather risky for midshipmen to have control of the boat, then, with no older man along?" asked Mrs. Meade. "It ought not to be," Dave replied. "Midshipmen of the upper classes are expected to be familiar with the handling of sailboats." "Those fellows are getting careless, at any rate," muttered Dan Dalzell. "Look at the way that sail is behaving. Those fellows are paying too much attention to the girls and too little heed to the handling of the craft!" Even as Dalzell spoke the helm was jammed over and the boat started to come about. "Confound Lambert! He ought to ease off his sheet a good bit," snapped Midshipman Dalzell. "Helmsman, point our boat so as to pass under the other craft's stern," spoke Darrin so quietly that only Dan and Belle overheard him. "Aye, aye, sir," murmured the helmsman, in a very low voice. Dave signaled the engineman silently to increase the speed. "There the boat goes, the sail caught by a cross current of air!" called Midshipman Dalzell almost furiously. The girls aboard the sailboat now cried out in alarm as they felt the extreme list of the boat under them. All too late Midshipman Gray Sprang for the sheet to ease it off. Too late! In another moment the sailboat had capsized, the mast nearly snapping in the blow over. "Make haste---do!" cried Mrs. Meade, rising in the steamer. But the steamer was already under increased headway, and the helmsman had to make but a slight turn to bear down directly to the scene of the disaster. Three midshipmen could be seen floundering in the water, each steadily supporting the head of a girl. But the fourth, midshipman was floundering about wildly. Then he disappeared beneath the water. "That young man has given up and gone down!" cried Mrs. Meade, whom Dave had just persuaded to resume her seat. "No," Dave assured her. "Gray isn't drowning. But his girl companion is missing, and he has dived to find her." "Then the girl is lost!" quivered Mrs. Meade. "No; I think not. Gray is a fine swimmer, and will find Miss Butler before she has been under too long a time." Then Dave rose, for he was commander here. "Danny boy, throw off your shoes and blouse and cap. The rest stand by the boat to give such aid as you can. Ladies, you'll excuse us." Thereupon Dave Darrin doffed his own cap, blouse and shoes. He and Dalzell were the two best swimmers in the party, and it looked as though there would be work ahead for them to do. In another moment the steamer was on the scene, and speed was shut off. Lambert, Haynes and Whipple, with their girl companions, were speedily reached and hauled aboard. Then Gray came up, but alone. "Hasn't Pauline come up?" he gasped in terror. "No," Darrin replied shortly, but in a voice laden with sympathy.