As the party was sailing back toward the brig, the light-house boat towing the Swash’s yawl, Jack took as good an observation of the channels of that part of the reef as his low position would allow. He tried to form in his mind a sort of chart of the spot, for, from the instant Mulford was thus deserted, the little fellow had formed a stern resolution to attempt his rescue. How that was to be done, however, was more than he yet knew; and when they reached the brig’s side, Tier may be said to have been filled with good intentions, rather than with any very available knowledge to enable him to put them in execution. As respects the two vessels, the arrival of Spike on board his own was not a moment too soon. The Poughkeepsie, for the stranger to the northward was now ascertained to be that sloop-of-war, was within long gun-shot by this time, and near enough to make certain, by means of her glasses, of the character of the craft with which she was closing. Luckily for the brig she lay in the channel so often mentioned, and through which both she and her present pursuer had so lately come, on their way to the northward. This brought her to windward, as the wind then stood, with a clear passage before her. Not a moment was lost. No sooner were the females sent below, than sail was made on the brig, and she began to beat through the passage, making long legs and short ones. She was chased, as a matter of course, and that hard, the difference in sailing between the two crafts not being sufficiently great to render the brigantine’s escape by any means certain, while absolutely within the range of those terrible missiles that were used by the man-of-war’s men. But Spike soon determined not to leave a point so delicate as that of his own and his vessel’s security to be decided by a mere superiority in the way of heels. The Florida Reef, with all its dangers, windings, and rocks, was as well known to him as the entrances to the port of New York. In addition to its larger channels, of which there are three or four, through which ships of size can pass, it had many others that would admit only vessels of a lighter draught of water. The brig was not flying light, it is true, but she was merely in good ballast trim, and passages would be available to her, into which the Poughkeepsie would not dare to venture. One of these lesser channels was favorably placed to further the escape of Spike, and he shoved the brig into it after the struggle had lasted less than an hour. This passage offered a shorter cut to the south side of the reef than the main channel, and the sloop-of-war, doubtless perceiving the uselessness of pursuit, under such circumstances, wore round on her heel, and came down through the main channel again, just entering the open water, near the spot where the schooner had sunk, as the sun was setting. [_To be continued._ * * * * *