"No, Mr. Wilkins," replied my father emphatically, "I'll have no more lives risked in the matter. The stuff can stay where it is. After all, we have not done so badly, if we do not take into consideration the two deplorable fatalities. The two large chests, four boxes of specie, and the gold plate are not to be sneezed at, and, as I have already announced to the crew, every man will be well provided for when the treasure is shared out. Even now we have done better than most of the treasure-hunting syndicates that have been formed in recent years, for we have a substantial balance in hand." "Then we'll weigh anchor to-morrow, sir?" asked the bos'n. "Everything is shipshape--stores, water, and ballast are aboard." "You must have worked well," exclaimed my father enthusiastically. "Yes, to-morrow at daybreak." * * * * * The rasping of the windlass and the clinking of the cable as it came slowly inboard were the welcome sounds that greeted my ears early the next morning, and, jumping out of my bunk, I proceeded to dress in order to have a glimpse of San Philipo Island before it was lost to view. But before I was half-way through that operation a hoarse voice shouted "Sail-ho!" "What can that be?" I asked myself. The next instant the bos'n came running down the companion, and, knocking at the door of my father's cabin, he exclaimed-- "A large steam-yacht approaching, sir!" "Any flag?" "No, sir; she shows no colours." "How far away is she?" "About two miles to the south-east, and she's making straight for the island." "The rival treasure-seekers!" I exclaimed excitedly. "Now for some excitement," and, hastily completing my toilet, I rushed on deck, where Uncle Herbert, Dr. Conolly, and the crew, save those who manned the windlass, were intently watching the approach of the strange craft. Presently we were joined by my father. The vessel, which had apparently been making about eleven knots, was now within half a mile, and her engines were eased down preparatory to anchoring. She was about two hundred tons displacement, with schooner bows, and carried two pole masts. With a telescope I saw the crew, clustered up for'ard, regarding us with the same curiosity that we were bestowing upon them. They were mostly dark-featured, some being black, and were rigged out in white canvas clothing and red-stocking caps. On the bridge were five or six men, evidently officers, in dark-blue uniforms; plentifully embellished with gold lace and buttons. A more inappropriate uniform for the tropics would be hard to obtain, unless it were a motor-coat; but it seemed evident from their love of finery; that these men came from a Latin nation--Italy or Spain, or one of their offshoots. "Up and down!" shouted the bos'n, who was superintending the weighing of the anchor, referring to the fact that the chain had already taken the weight of our ground-tackle off the bottom'.