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ear an island。 He said that he was studying navigable passages。〃
〃That was his pretext；〃 smiled Gaudrin。 〃He was actually seeking the Spanish wreck。 But let me proceed。 When Emory returned from the last cruise； bringing the good tidings； I was forced to inform him that the Nautilus was under attachment for the sum of fifteen thousand dollars。〃
〃I DID not know that； Danforth。〃
〃Of course not； Marr。 I wired you in Florida。 You were kind enough to e to New Orleans。 I offered you the yacht for twenty thousand dollars。 You agreed to purchase it。〃
〃On a bargain basis。〃
〃Perhaps。 But you conceded to my terms。 They were quite unusual； I must admit…cash down； with the yacht to be delivered in one month。〃
〃I remember。 But you explained that； Danforth。 You told me that you had chartered the yacht to a British professor； Pearson Babcock； who intended to go on a coral hunting cruise。 He had e here from London。 You did not want to disappoint him。〃
〃That is true。 I used Babcock as an excuse。〃
〃Then he did not take the present cruise？〃
〃Yes； indeed。 He is aboard the Nautilus studying his corals。 Emory and I decided that he should most certainly make the trip。〃
〃Why so？〃
〃Because I invested some of the five thousand…the money of yours that remained after I paid the attachment…in special diving equipment。〃
〃Yes。 I remember that。 You said that Professor Babcock needed it for gathering coral。〃
〃Another excuse； Marr。 Babcock's cruise had been publicized。 By going through with it； Emory and I were able to offset the ment that would have arisen had Emory alone set out equipped to scour the bottom of the Gulf。〃
Dunwood Marr chuckled in admiration。 He took a swallow from his glass； then declared：
〃You took me in pletely； Danforth。 I saw that new equipment for the Nautilus。 I fell for the coral story。 Well； good luck to the enterprise〃…Marr raised his glass…〃and you are wele to keep the Nautilus at sea until she finds the treasure。〃
〃Thank you； Marr；〃 said Gaudrin； warmly。 〃Your kindness assures my success。 You are not pressing me for the twenty thousand dollars…〃
〃Of course not。 Unload your treasure…here's hoping Emory finds it…then deliver me the yacht。 I had not intended to use it for some time to e。〃
〃It is not a case of seeking the treasure； Marr。 Emory has already found it。 A radio message informed me that the gold will soon be raised from the wreck of the Don Carlos。〃
MARR was speechless。 He arose from his chair and extended his hand to Gaudrin。 The two men gave the clasp of friendship。
〃I am worth millions； Marr；〃 declared Gaudrin。 〃Much of my gain will go toward restoring my former losses。 But I shall be wealthy； even after repaying Captain Emory and his faithful crew。 As for you…well； Marr； I shall have a present for you。〃
〃A present？〃
〃Yes。 The Nautilus。 I shall return your twenty thousand dollars when I give you the papers to the yacht。〃
Marr began a protest； trying to make Gaudrin retract his generous offer。
The elderly host would not listen。 Shaking his head； he filled up the glasses。
Marr finally subsided in his protests。 He chuckled as he thought of Danforth Gaudrin's good fortune。 Then； suddenly； Marr's face clouded。
〃Your son Luke；〃 he questioned； seriously。 〃Does he know about this treasure？〃
〃No；〃 declared Gaudrin； emphatically。 〃He knows nothing。〃
〃That is good；〃 decided Marr。 〃Of course； Alicia could be trusted。〃
〃I have not mentioned the matter to her。〃
〃Then no one knows； outside of Professor Babcock？〃
〃That is correct。 Of course…〃
Marr looked quizzical as Gaudrin paused。
〃I was thinking about Exeter；〃 explained Gaudrin。 〃It is possible that he knows something of the matter。〃
〃Through whom？〃
〃Through Babcock。 You met Babcock…the professor…〃
〃Yes。 Owlface…big glasses …looks like a fossil…〃
〃A good description； Marr。 Well； Babcock was harmless； so I took him into my confidence。 The treasure meant nothing to him。 He was pletely lost in the idea of gathering coral。 But Exeter had intended to go on the cruise with Babcock。〃
〃Is Exeter an Englishman？〃
〃No。 He is an Australian。 He happened to be in New Orleans at the time the professor arrived…while the Nautilus was still out on cruise。 Exeter read an account of Babcock's arrival that appeared in the Picayune。 He came to see Babcock； who was staying here。〃
〃He knew Babcock？〃
〃No。 But he had met friends of the professor in Australia。 Babcock liked Exeter and invited him to go on the coral cruise。 Afterward； I urged the professor to revoke the invitation。〃
〃How did Exeter take it？〃
〃Very decently。 Babcock handled it rather poorly； Exeter caught the point and said himself that he would have to change his mind about the cruise。 He said that he might have to go to England at any time； so he preferred to remain in New Orleans。〃
〃And you invited him to stay here？〃
〃Alicia did。 She likes Exeter immensely。 He has proven to be a real gentleman。 He volunteered to act as chauffeur during his stay。 As yet； he has not received word from London。〃
〃Perhaps that was just an excuse to relieve the professor's embarrassment。〃
〃Probably。 And Alicia just won't let the young chap leave us。 If I explain circumstances to her； she would bee indignant if I suggested that Exeter might be waiting to see the treasure。〃
〃And I think she would be right；〃 decided Marr。 〃If Exeter appears all right and has no friends here in New Orleans； he can hardly be a schemer。〃
〃Then you would let matters rest as they are？〃 inquired Gaudrin。
〃Regarding Alicia and Reginald Exeter？〃
〃YES。 Well； Danforth； again allow me to congratulate you。 Tomorrow I shall fly back to New Orleans。 Wire me after the Nautilus arrives。〃
〃I shall wire you before。 In fact； Marr； I shall expect you back as soon as possible。〃
〃Why？〃
〃To see my ship e in。 To receive your twenty thousand dollars。 You can cruise back to Florida in the Nautilus。 By the way； Marr； how would you like to receive payment in Spanish doubloons and pieces…of…eight？〃
〃Great！〃 exclaimed Marr。 〃Do you know； Danforth； that suggestion makes me almost willing to accept the money that you offer。〃
〃Almost willing？〃 inquired Gaudrin。 〃Look here； young man； you'll take that twenty thousand if I have to load it in the cabin of the Nautilus。〃
〃I'll settle the argument；〃 chuckled Marr。 〃How much do you expect to salvage from that wreck？〃
〃Perhaps two million dollars；〃 replied Gaudrin。 〃Based on the present level of gold valuation。〃
〃Then here's the bargain；〃 decided Marr。 〃If you gross over two million； I shall take the twenty thousand。 I don't need the money； Danforth。 My Mexican mines are bringing me more than I know what to do with。 But if you gross over two million； I shall agree that you can spare twenty thousand。〃
〃Very well；〃 smiled Gaudrin。 〃We made one bargain with the Nautilus and you accepted my terms。 This is another bargain and I shall accept yours。 e。
Let us go out upon the lawn。〃
Chairs slid back。 Glasses plunked upon the table。 The two men strolled from the study。 Then came a slight sound beyond the locked door in the far corner。
IN the passageway； Luke Gaudrin rose stealthily。 He turned and made his way to the parlor。 He closed the door behind him。 In sneaky fashion； he went into the hall。 Seeing no one； Luke shuffled out to the front porch。
There the sallow…faced young man dug into his pocket and produced a few dollars。 Luke smiled sourly； then shrugged his shoulders。 He walked along the driveway； headed for the avenue and waited until a passing taxi appeared。
Luke clambered aboard； gave an address and settled back in the rear seat。
His smile denoted pleasure。 Apparently； Luke Gaudrin； like his father； was looking forward to a prosperous future； thanks to the ining Spanish wealth。
CHAPTER VII
IN THE VIEUX CARRE
LATER that afternoon； a man strolled from the depot of the Southern Railway； at the fringe of the Canal Street business section。 It was Tracy Lence。 The swindler had arrived in New Orleans。
Lence strolled leisurely along the principal thoroughfare。 To all appearances； he was a chance stranger； just arrived in New Orleans。 Half a block from the railway station； Lence saw a motion picture theater。 He purchased an admission ticket and strolled past the ticket…chopper。
The swindler chose a far aisle。 An usher showed him to a seat。 As soon as the attendant had gone； Lence arose and edged back to the upper end of the aisle。 From this darkened lookout； he watched for other customers ing through the main door。
Business was slow at this hour。 The dozen persons who entered while Tracy watched were all ordinary patrons。 Satisfied that no smart dick had taken up his trail； the swindler went down the aisle； found a secluded exit and stepped out into the light of a side street。
He did not return to Canal Street。 Instead； he walked along to a thoroughfare that paralleled the main channel of traffic。 A few minutes later； he had entered the Vieux Carre； the famous French Quarters of New Orleans。
Lence had been here before。 He knew the general location of the place he sought。 He displayed little interest in the picturesque details of the Quarter。
He walked along unnoticing the old…fashioned buildings with their overhanging balconies。 At each crossing； however； he paused and noted the street signs。 He found the one he wanted。
Turning left； the swindler walked two blocks further； then stopped before the entrance of a stone…fronted building。 A wary glance in both directions。
Lence walked through the doorway。 He found himself in a stone courtyard。
Up above were inner balconies； reached by stairways from the interior。 The house consisted of rooms that served as apartments and studios。 Lence chose the nearest stairway and ascended。 He looked through an opened doorway that led from a second…story balcony。 He observed the interior of a studio。
On the other side of the large room was a doorway that led to the living quarters。 Looking about； Lence saw a man in the studio。 The fellow was a bearded Frenchman； who wore an artist's smock and a beret。 Palette on forearm； he was using a brush to apply the finishing touches to a portrait。
〃Bonjour； monsieur；〃 greeted Lence。
The artist turned and mildly surveyed his visitor。 Not recognizing Lence； he made a profound bow to the stranger。
〃Ah； monsieur；〃 responded the Frenchman； 〃que voulez…vous ici？〃
Lence smiled and shook his head。 He caught the meaning of the artist's inquiry； but his own knowledge of French was too limited to proceed in that tongue。
〃Do you speak English； monsieur？〃 he inquired。
〃Oui； monsieur。〃 Again the Frenchman bowed； then repeated his question in English： 〃What is it that you wish here？〃
〃I wish to see Monsieur Brilliard。〃
〃Ah； monsieur！ It is I you seek。〃
〃You are Brilliard？〃
〃Raoul Brilliard。〃
LENCE paused in surprise。 He had e here to find a fellow confidence worker。 Instead； he had discovered a bona fide artist。 In posing as a gentleman； Tracy Lence had cultivated a knowledge of painting。 He could see that there was merit to the portrait that Raoul Brilliard was pleting。
〃Ah； monsieur〃…Brilliard had noted Lence's gaze turn toward the painting…〃is it for a portrait that you have e？ Perhaps； monsieur there would be someone who might wish my work？〃
〃My name is Tracy Lence；〃 replied the visitor。
A change came over the Frenchman's features。 Sharp eyes peered from beneath bushy brows。 Then； with a voluble flow of French； Brilliard strode excitedly to the door and closed it。
〃Tres bien； monsieur。 C'est un honneur…〃
Brilliard turned while speaking these words。 Then； the door closed behind him； he broke off suddenly。 He extended his hand as he stepped toward the visitor。
〃I was expecting you；〃 chuckled Brilliard； discarding accent as well as French。 〃But when you came in； I thought you were some wealthy art patron。 You fooled me； Lence。〃
〃Not half as much as you fooled me；〃 replied Lence。 He eyed this other agent of Cyro。 〃I never expected to find you