"You have been betrayed!"

The young man started, and a slight pallor overspread his
handsome face as he caught the girl's delicate arm in his firm
grasp, and demanded:

"Who am I?"

"You are Spencer Vance."

The young man could not conceal an expression of extreme
astonishment.

"Who told you my name was Spencer Vance?"

"It matters not, but take heed; do not go out on the sea
to-night."

"I tell you I must! I will go, but you must tell me what you
know of Spencer Vance."

"You are a revenue detective; you are in the employ of the
Government; you have been betrayed, and to-night you are to be
silenced if you go out on the yacht!"

"Do the men on the yacht know who I am?"

"They do not know your name, but they suspect you are a
Government detective, and they have determined to put you out
of the way; to-night they will do the deed if you go."