“You dirty dog!” cried Cappy Ricks hoarsely.

“Really, my dear Peasley, this matter has passed beyond the joke stage,” Mr. Skinner began suavely.

“Let me get along with my story,” said he.  “The worst is yet to come.  My attorney informs me—­”

“Matt Peasley,” said Cappy Ricks, “that’s the first lie I ever knew you to tell.  You don’t have to hire an attorney to tell you where to head in, you infernal sea lawyer!”

“I thank you for the compliment,” Matt observed quizzically.  “Perhaps I deserve it.  However, ‘we come to bury Caesar, not to praise him;’ so, if you will kindly hold over your head, Mr. Ricks, I’ll be pleased to hit it another swat.”

“Well, I’ll admit that the failure of Morrow & Company and the Pacific Shipping Company to pay the crew of the Tillicum puts the buck up to me, and I dare say I’ll have to pay,” Cappy admitted, his voice trembling with rage.

“Well, that isn’t the only bill you’ll have to pay.  Don’t cheer until you’re out of the woods, Mr. Ricks.  You’ll have to pay for a couple of thousand barrels of fuel oil, and a lot of engine supplies, and sea stores, and laundry, and water—­why, Lord bless you, Mr. Ricks, I can’t begin to think of all the things you’re stuck for!”

“Not a bit of it!” Cappy cried triumphantly.  “It was an open-boat charter, my son, and you rechartered on the same basis; and, though Morrow & Company were originally responsible you’ll find that the creditors, despairing of collecting from them, will come down on the Pacific Shipping Company like a pack of ravening wolves, by thunder!  Don’t you cheer until you’re out of the woods!”

“Well, I have a license to cheer,” Matt replied, “because I got out of the woods a long time ago.  Before the vessel sailed from this port, I sent this letter to all her creditors!” And Matt thrust into Cappy Ricks’ hand a copy of the letter in question.

“That will not help you at all,” Mr. Skinner, who had read the letter over Cappy’s shoulder, declared.

“It wouldn’t—­if I hadn’t sent it by registered mail and got a return receipt,” Matt admitted; “but, since I have a receipt from every creditor acknowledging the denial of responsibility of the Pacific Shipping Company, I’m in the clear.  It was up to the creditors to protect their hands before the vessel went to sea!  They had ample warning—­and I can prove it!  I tell you, Mr. Ricks, when you begin to dig into this matter you will find these creditors will claim that every article furnished to the Tillicum while Morrow & Company had her was ordered on requisitions signed by Captain Grant, your employee, or Collins, your chief engineer.  They were your servants and you paid their salaries.”

“All right then,” Cappy challenged.  “Suppose we do have to pay.  How about that freight money you collected in Panama—­eh?  How about that?  I guess we’ll have an accounting of the freight money, young man.”