to the _Swallow_, and as she swung around those on the yacht
caught a good view of the freighter's stern deck.

There were a small number of passengers on board, and as Sam looked
them over he gave a sudden start.

"My gracious, can it be possible!" he gasped.

"Can what be possible, Sam?" queried Tom.

"Look! look!"

"At what?"

"At the passengers on the steamer. Am I dreaming, or is that--he is
gone!" And Sam's face fell.

"Who are you talking about?"

"Arnold Baxter! He was on the steamer, just as sure as I stand here.
And we both thought him dead!"




CHAPTER III.

ON A LUMBER RAFT.