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By Root 20557 0

know if the reader fully appreciated that astute suggestion--the hint that secrecy as to results was necessary owing both to the great sum at stake and the flaw in the title, which he had been careful to inform us had passed through British hands. What he meant to imply was, 'Don't be surprised if you have midnight visitors; Englishmen prowling along this coast are suspected of being Lloyd's agents.' An ingenious insinuation, which, at the time it was made, had caused me to contemplate a new and much more commonplace solution of our enigma than had ever occurred to us; but it was only a passing doubt, and I dismissed it altogether now.

The fact was, it either explained everything or nothing. As long as we held to our fundamental assumption--that Davies had been decoyed into a death-trap in September--it explained nothing. It was too fantastic to suppose that the exigencies of a commercial speculation would lead to such extremities as that. We were not in the South Sea Islands; nor were we the puppets of a romance. We were in Europe, dealing not only with a Dollmann, but with an officer of the German Imperial Navy, who would scarcely be connected with a commercial enterprise which could conceivably be reduced to forwarding its objects in such a fashion. It was shocking enough to find him in relations with such a scoundrel at all, but it was explicable if the motive were imperial--not so if it were financial. No; to accept the suggestion we must declare the whole quest a mare's nest from beginning to end; the attempt on Davies a delusion of his own fancy, the whole structure we had built on it, baseless.

'Well,' I can hear the reader saying, 'why not? You, at any rate, were always a little sceptical.'

Granted; yet I can truthfully say I scarcely faltered for a moment. Much had happened since Schlei Fiord. I had seen the mechanism of the death-trap; I had lived with Davies for a stormy fortnight, every hour of which had increased my reliance on his seamanship, and also, therefore, on his account of an event which depended largely for its correct interpretation on a balanced nautical judgement. Finally, I had been unconsciously realizing, and knew from his mouth to-day, that he had exercised and acted on that judgement in the teeth of personal considerations, which his loyal nature made overwhelming in their force.

What, then, was the meaning of Memmert? At the outset it riveted my attention on the Ems estuary, whose mouth it adjoins. We had always rather neglected the Ems in our calculations; with some excuse, too, for at first sight its importance bears no proportion to that of the three greater estuaries. The latter bear vessels of the largest tonnage and deepest draught to the very quays of Hamburg, Bremerhaven, and the naval dockyard of Wilhelmshaven; while two of them, the Elbe and the Weser, arc commerce carriers on the vastest scale for the whole empire. The Ems, on the other hand, only serves towns of the second class. A glance at the chart explains this. You see a most imposing estuary on a grander scale than any of the other three taken singly, with a length of thirty miles and a frontage on the North Sea of ten miles. or one-seventieth, roughly, of the whole seaboard; encumbered by outlying shoals, and blocked in the centre by the island of Borkum, but presenting two fine deep-water channels to the incoming vessel. These roll superbly through enormous sheets of sand, unite and approach the mainland in one stately stream three miles in breadth. But then comes a sad falling off. The navigable fairway shoals and shrinks, middle grounds obstruct it, and shelving foreshores persistently deny it that easy access to the land that alone can create great seaboard cities. All the ports of the Ems are tidal; the harbour of Delfzyl, on the Dutch side, dries at low water, and Emden, the principal German port, can only be reached by a lock and a mile of canal.

But this depreciation is only relative. Judged on its merits, and not by the standard of the Elbe, it is a very important river. Emden is a flourishing and growing