that he has bought the steamer Ionian for this purpose, and he expects
to be paid in full for her. I think that is quite enough to condemn the
steamer."

"Undoubtedly; but what is the Ionian to do in the Bermudas? That is what
perplexes me," said the detective.

"Possibly Captain Chantor can solve the problem, for I am sure I
cannot," answered the young officer, as he rose from his seat.

He was as much perplexed as his companion, and he went on deck to wait
the appearance of the commander. About nine o'clock he came upon the
quarter-deck. The Ionian remained at the same relative distance from the
Chateaugay, for the captain had given an order to this effect before he
turned in.

"I am glad to see you, Captain Chantor," said Christy. "Can you explain
why the Ionian is headed for the Bermudas, for you have later
information than any in my possession?"

"I think I can," replied the captain, taking a letter from his pocket.
"This is the contents of the last envelope brought off from the shore.
The writer of it says he has just addressed a letter to 'our friend in
New York,' directing him, if it is not too late, to send the steamer
with the machinery and other merchandise to the Bermudas, where the
cargo will be transferred to the Dornoch; for the Ovidio had been
obliged to sail without her armament, and the cargo was too valuable to
be risked without protection."

"That is the reason why the reinforcement was sent off at the last