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“What’s up, Royal?” questioned Luke, in an anxious tone.

“I hear you’ve been making friends here,” replied the gambler.

“Well, yes,” admired Luke. “I didn’t see any reason why I shouldn’t.”

“Is there any reason why you should?”

“Well — yes, I think there is. On account of the governor’s attitude. He doesn’t approve of my associations. I thought that I ought to make some worthwhile acquaintances here.”

“Such as Tracy Lence?”

“Yes. Lence is a mighty decent sort.”

“You feel convinced of that?”

“I’m positive.”

Medbrook eyed the sallow young man. Then, in an elusive tone, the gambler remarked:

“Lence left rather unexpectedly tonight.”

“He had an appointment with some friends. Going out of town for a few days. He’s going to call me up when he comes back. Honestly, Royal, I didn’t try to hit the fellow for a touch. I promised you I’d quit that business of sponging—”

“All right.” The gambler smiled and stopped Luke with a wave of his hand. “I’m glad to hear that you have reformed. You came near driving away some good customers. I just wanted to make sure that you weren’t annoying Lence. By the way, where is he from?”

“New York.”

“What’s his business?”

“He didn’t say.”

A pause. Medbrook settled back in his chair. Luke decided to resume the talk.

“I HIT a winning streak, Royal,” he declared. “Came out about twelve hundred to the good on one of your wheels. If you want, I can pay something on that account of mine—”

“Keep it — in credit. Maybe you’ll have another good run. Or maybe” — a smile — “my total will swell a bit after you have lost tonight’s winnings.”

“I was following a system,” informed Luke. “Met a man who was winning with it—”

“Another new friend, oh? What was his name?”

“Lamont Cranston.”

“A millionaire. Good man to know.”

“I found that out.”

Medbrook smiled. He reached for a cigar. Lighting the panetela, he rested back and stared at the ceiling. It was his way of bringing up a new subject. When he spoke, his tone was serious.

“I’ve been thinking about you, Luke,” he declared. “The month is just about up.”

“I know that, Royal,” returned the young man, quickly. “And I’ve got good news for you. I could have told you a couple of nights ago; but I didn’t want to bother you.”

“Considerate of you,” remarked Royal, with a slight tone of sarcasm. “Don’t mind about bothering me in the future. That is, when you have dough.”

“I don’t have it yet. But it’s in the bag.”

“That’s what you told me a month ago.”

“Listen, Royal. I told you—”

“You’ve told me a great many stories, Luke. They don’t always jibe. That’s the trouble.”

“I’m not trying to bluff you, Royal.”

Medbrook made no reply. His eyes, however, held a doubtful look. Luke’s voice became almost pleading.

“Listen to me, Royal,” he persisted. “I’ll go back to the beginning. You’ll see I haven’t changed my story. About a month ago, I owed you ten thousand dollars, didn’t I?”

“Nine thousand eight hundred and fifty,” returned Medbrook, looking at one of the slips on his desk.

“You wanted your money, Royal. I told you I’d try to borrow it from Dunwood Marr, who was coming to see us. Then I heard the governor say something to old Professor Babcock — about selling the Nautilus to Marr. The gov and Babcock went into the office for a conference with Captain Emory. I listened in. That’s how I found out that the yacht was going after Spanish treasure.”

“To be brought back within a month.”

“Yes. That’s what I told you. Marr bought the yacht, but didn’t call for immediate delivery. That financed the trip, like I told you. You said you’d hold off collecting my debt. You promised me more credit.”

“Which I gave you.”

“Yes. Now I’m in a hole for about fifteen thousand.”

“Not quite. It was fifteen thousand eight hundred. Deducting your twelve hundred gain tonight reduces it to fourteen thousand six hundred. But the month is about up, Luke.”

“I know it. And the treasure is on the Nautilus.”

ROYAL MEDBROOK stared steadily at Luke. He saw an expression of real satisfaction upon the young man’s face. It was plain that Luke had learned something. As Royal watched him, Luke decided to explain.

“Marr came to town a few days ago,” asserted Luke. “He talked with the governor and I listened in. The old man told him the good news. Wireless from Emory. They were raising the treasure.”

“Wait a moment, Luke.” Medbrook spoke steadily. “That doesn’t fit with your previous story. Marr wasn’t in on the know.”

“He is now. The governor had to tell him — on account of the Nautilus being delayed.”

“I see. What was Marr’s reaction?”

“Tickled silly. Glad to see the governor coming through with a big haul. The gov promised Marr the Nautilus as a present, because of the aid he had given without knowing it.”

“And Marr accepted?”

“Only if the haul comes to more than two million. Marr doesn’t need money. He gets his from those Mexican mines.”

“Then you expect the Nautilus—”

“Early next week. And you know how liberal the governor is with me — provided he has the money. Well, he’ll have it, Royal, and—”

“He won’t have it if he talks too much.”

“Marr is the only person he talked to. Outside of old Babcock, who’s on the cruise.”

“What about this young chap, Exeter? The one who is staying at your house?”

“I’m watching him. He hasn’t made a move. Has a crush on Alicia. That’s why he’s around. The governor’s keeping mum, Royal.”

“And are you?”

“Positively, Royal! I see what you’re getting at. Making friends like Lence and Cranston might worry you. Well, don’t let it. I’m staking everything on this treasure. I only told you because I didn’t want the governor to know that I’d gone over my depth.”

“You told me because you needed money,” announced Medbrook, steadily. “I postponed your debt payment. I gave you further credit because I figured the more you were around here, the less chance there would be of your blabbing.

“But I have no proof that you have not tried the same story with others. It sounds good enough — the way you’ve told it — to get a few thousand from a man who has cash to spare. There are plenty of such fellows out here, Luke.”

“I’m giving you my word, Royal. I haven’t spoken to a soul about it—”

“Then don’t. If you need cash, come to me. I’ll let you have it — as much as is good for you — in addition to that credit you have here. All on the account, you understand.”

“Thanks, Royal, that’s white of you. I won’t abuse the privilege. What’s more, I’ll dodge Lence when he calls up. And I’ll keep away from Cranston too—”

“Don’t do that,” interrupted Medbrook. “You have made those acquaintances. Keep them. But don’t sponge. Don’t borrow. And on the contrary, don’t splurge. Be yourself — a young man of a good family. In moderate circumstances.

“Remember, you will have to impress your father after his ship comes in. If he sees that you are making acquaintances among men who appear to be wealthy, he will be more inclined to finance you after the wealth arrives.

“Unless you use common sense, the deal will be off. Play straight. Let me know as soon as the Nautilus is due, so I can keep posted. Those terms are fair.”