This proposition seemed to knock the squire entirely out of his self-possession; and he paused in silence, gazing intently at the shipmaster as if he desired to fathom his motive in making an offer so startlingly liberal. He had no especial interest in Louis, though he and the boy had always been warm friends. It occurred just then to the squire, and perhaps it had occurred to him before, that the captain had an especial interest in Louis’s mother, as he certainly had had a few years before. Uncle Moses was silent for some time, during which he did some heavy thinking, though no one could know precisely what it was all about. Perhaps he was considering whether or not he ought to make such a heavy investment in what he regarded as a mere plaything for the boy. But he soon came to a conclusion, and his fat face brightened up all at once, his habitual smile recovering possession of it. “No, no, Captain Ringgold; I could not for a moment think of accepting your proposition. If Louis is to own a steam-yacht, he must own it himself alone,” said the squire very decidedly. “Of course I made the offer solely to help along the plan we have in view for the recovery of Mrs. Belgrave; more than this, I believe the purchase at the price it can be bought will be a good investment, for she cost a good deal more money than they ask for her,” replied the captain, taken all aback by the firm and decisive conclusion of the trustee, though it possibly upset some hope he had been indulging. The shipmaster’s manner assured the squire that he had come to a correct conclusion, for he felt that he had no right to complicate the affairs of the mother in looking out for the welfare of the son. He did not consider that it would be proper for him to put the worthy nautical gentleman in condition to “make his way” with Mrs. Belgrave by permitting him to become half-owner in the steam-yacht. “Now, my dear captain, can you give me an idea of the probable expense of running this steamer?” asked Uncle Moses. “Fifty thousand dollars a year might easily be spent on such a yacht, but I believe it will not cost your ward more than half that sum. I believe that a trip around the world in such a craft would be worth more to him than a college course, especially if he took a competent instructor with him,” replied the expert. “That would just suit me!” exclaimed Louis. “Buy the yacht for him then, Captain Ringgold,” added the trustee. “He will not spend more than half his income at that rate.” “What shall her name be?” asked the shipmaster. “The Guardian-Mother,” replied Louis without an instant’s hesitation. CHAPTER XXV ON BOARD OF THE PHANTOM