“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.