"Hullo, boys," greeted Jacob Farnum, coming out from the inner office, a letter in his hands. "By the way, here's something that may interest you. I've a letter from a man who writes about the new trick of leaving a submerged boat. He refers to you boys as our young experts."

"He doesn't know, does he," chuckled Jack, "that we're only three apprentices, and rather raw, at that?"

"No, you're not," retorted Mr. Farnum. "My correspondent is pretty near right in referring to you as young experts."

"If we're going to get that reputation," muttered Benson, more than half seriously, "we'll have a heap to do in 'making good.'"

"Just look here, Farnum, at what these boys have been at work on," begged the inventor, calling attention to the partly-finished model.

In an instant the boatbuilder became absorbed in the idea as shown by model and drawings.

"Can this be made perfect, Dave?" he asked, eagerly, turning to the inventor.

"I think it can," answered Mr. Pollard. "The boys have been good enough to ask me to try."

"Then I hope you'll start, this minute," exclaimed the yard's owner. "It means more to us, Dave--more to us, boys--than any of you suppose at this moment! Let me tell you something. This letter holds the key to the secret. Trying to interest people in our work, I've been writing right and left trying to raise more capital on terms that would be fair to us. Now, here's a letter from Broughton Emerson, a man worth millions. He admits that my letter has interested him. He'll come here, soon, and he states that, if we can show him a good enough chance to make money he will put in the needed capital, taking satisfactory security, and yet leave the business under its present control. In other words, he's likely to do just what we wanted George Melville to do. Isn't that good enough news for one morning?"

"Yes, provided we can make as good a showing as he expects," replied the inventor, cautiously.

"Oh, if we could only get a chance to make a trial trip for a United States Naval board!" sighed Jack Benson, wistfully. "The Navy Department has money now at its disposal for the purchase of submarines. If we could get the Government to buy the 'Pollard,' that would show investors what's what in money-making." Benson's face was all aglow with mingled enthusiasm and wistfulness. He, and his mates, took as keen an interest in the future of the "Pollard" as though they themselves owned that doughty little craft.

"A trial trip for the Navy Department?" smiled Mr. Farnum, gravely.

"Well, I don't mind telling you that we may have that, too, before long."

"Is any date set?" breathed Captain Jack, quickly.

"Not yet, nor is the matter even fully decided. But the newspapers have produced a big effect on the Navy Department. The makers of other types of submarine boats are green with jealousy of us, just now. Your escaping trick, Jack, has made so much public clamor that Farnum stock is going up all over the country. We'll have some big chances, mighty soon, I'm thinking. If we get the chances, I'm certain enough that you boys will help push us on to victory!"

Happy dreams were these that builder, inventor and crew dreamed! The fever of conquest was in their veins.

Shutting himself up in a room at Farnum's home, depriving himself of much of his needed sleep, often refusing food, David Pollard attacked the problem of perfecting the device that Captain Jack and his mates had originally planned.

Two days later Broughton Emerson arrived. He was a pleasant, portly man of more than fifty years. His manners were quiet and easy. He was affable with everyone, but he had a keen way of looking into things.

No one could guess quite what he thought of the chances of success in the enterprise of building submarine boats. Before the day was over George Melville, who was slightly acquainted with Mr. Emerson, learned that he was in town. That evening Mr. Melville succeeded in meeting Mr. Emerson and getting him over to his hotel.

"If you want to save a lot of money, Mr. Emerson," hinted George Melville, "you want to be very careful to keep it out of the Farnum investment."

"What's wrong with the Farnum business?" questioned the other capitalist.

"About everything, I believe," replied Mr. Melville. "And, even if the 'Pollard' were a capable a boat as its backers claim, it would still be beaten by the type of boat that I am now working on."

"Are you looking for capital for your submarine business?" asked Broughton Emerson, a shrewd little twinkle in his eyes.

"No; I have all we want. Not a dollar is needed, but I don't like the idea of your losing a lot of money with that other crowd. They haven't any real show to do anything with their boat."

"They are a great lot of enthusiasts over at the Farnum yard," said Mr.

Emerson, musingly. "I like people as enthusiastic as they are. Why, just think of those boys; what a bright lot they are!"

"Humph! In the end Farnum will wish he never seen those boys," sneered Mr. Melville.

"Why?"

"Well, the boys are wholly ready to sell out all they know about the Farnum boat."

"Are you sure of that, Melville?" demanded Mr. Emerson, opening his eyes more widely.

"Wholly positive. Benson has already offered to sell us all he knows about the 'Pollard.' He'll steal plans, shift to our employ, or serve us in any way that he can by betraying his present employers."

"You astound me," cried the other capitalist. "And you are really quite sure of this?"

"As sure as I can be made by Benson's own offer."

In declaring this George Melville believed he was telling the truth. His son, Don, hoping to work out a scheme whereby Jack could be hopelessly disgraced, had gone as far as to tell his father that Jack was willing to overlook the past fight, and to "sell out" all he knew about the design and inner workings of the "Pollard."

"The Farnum business looks very inviting, despite what Melville says against it," thought Broughton Emerson, later that night. "Yet, if I put any money into the venture, on any terms, I must insist on the one condition that the boys be banished from Farnum's employ."

Of this far-reaching mischief, following Don's deliberate lie to his father, Captain Jack Benson and his mates had not even a suspicion.

Two days later the three submarine boys were delighted at knowing that Broughton Emerson, despite the advice he had received from Mr. Melville, was thinking most seriously of advancing a few hundred thousand dollars to help boom the "Pollard" type of submarine boat.

"That will put a crimp in the Melvilles, when they hear, won't it?"

laughed Jack, in talking it over with Hal Hastings and Eph Somers.

Not one of the boys would have slept that night, had they known of the plans forming to disgrace Jack Benson even in the eyes of Messrs.

Farnum and Pollard.

CHAPTER IX

A RASCALLY PIECE OF WORK

"Now, we shall soon know!" cried David Pollard, hoa.r.s.ely.

He was trembling with the fever of the intense inventor.

Out in the little harbor the "Pollard" lay on the bottom. In the cabin, besides the three submarine boys, were only Jacob Farnum and David Pollard.

The eyes of all five were fixed on a small but ingenious bit of mechanism that had been carefully adjusted near the rear port of the boat's torpedo tube. This was the automatic device, first planned by Jack Benson, with the aid of his mates, and carried forward to working order by Mr. Pollard. By the aid of this automatic mechanism it was believed that the last man aboard a torpedo boat could let himself into the tube, relying upon the automatic device first to close the rear port, then opening the forward port and at the same time letting just the right amount of compressed air into the tube. By this means the last man aboard a submarine below the surface could provide for his own escape, without the aid of a comrade.

Eph Somers had been chosen to make the effort. He now stood, in his bathing suit, awaiting the word.

"Go ahead, Eph," ordered Mr. Farnum. "Be very careful to set the device just right. Not one of us is going to touch it."

Eph carefully set the time hand on the dial, next crawled into the torpedo tube, the rear port of which stood open. Sixty seconds later the automatic device closed the rear port with a sharp click.