Very sweet and dainty she stood before him in her gown of shimmering grey, a faint excitement tinting her fair cheeks and sparkling in her clear, hazel eyes, that looked so frank and honest. She wore no hat, and the ringlets of her gold-brown hair fluttered distractingly in the morning breeze.

Captain Blood bared his head and bowed silently in a greeting which she returned composedly and formally.

"What is happening, Lord Julian?" she enquired.

As if to answer her a third gun spoke from the ships towards which she was looking intent and wonderingly. A frown rumpled her brow. She looked from one to the other of the men who stood there so glum and obviously ill at ease.

"They are ships of the Jamaica fleet," his lordship answered her.

It should in any case have been a sufficient explanation. But before more could be added, their attention was drawn at last to Ogle, who came bounding up the broad ladder, and to the men lounging aft in his wake, in all of which, instinctively, they apprehended a vague menace.

At the head of the companion, Ogle found his progress barred by Blood, who confronted him, a sudden sternness in his face and in every line of him.

"What's this?" the Captain demanded sharply. "Your station is on the gun-deck. Why have you left it?"

Thus challenged, the obvious truculence faded out of Ogle's bearing, quenched by the old habit of obedience and the natural dominance that was the secret of the Captain's rule over his wild followers. But it gave no pause to the gunner's intention. If anything it increased his excitement.

"Captain," he said, and as he spoke he pointed to the pursuing ships, "Colonel Bishop holds us. We're in no case either to run or fight."

Blood's height seemed to increase, as did his sternness.

"Ogle," said he, in a voice cold and sharp as steel, "your station is on the gun-deck. You'll return to it at once, and take your crew with you, or else..."

But Ogle, violent of mien and gesture, interrupted him.

"Threats will not serve, Captain."

"Will they not?"

It was the first time in his buccaneering career that an order of his had been disregarded, or that a man had failed in the obedience to which he pledged all those who joined him. That this insubordination should proceed from one of those whom he most trusted, one of his old Barbados associates, was in itself a bitterness, and made him reluctant to that which instinct told him must be done. His hand closed over the butt of one of the pistols slung before him.

"Nor will that serve you," Ogle warned him, still more fiercely. "The men are of my thinking, and they'll have their way."

"And what way may that be?"

"The way to make us safe. We'll neither sink nor hang whiles we can help it."

From the three or four score men massed below in the waist came a rumble of approval. Captain Blood's glance raked the ranks of those resolute, fierce-eyed fellows, then it came to rest again on Ogle. There was here quite plainly a vague threat, a mutinous spirit he could not understand. "You come to give advice, then, do you?" quoth he, relenting nothing of his sternness.

"That's it, Captain; advice. That girl, there." He flung out a bare arm to point to her. "Bishop's girl; the Governor of Jamaica's niece... We want her as a hostage for our safety."

"Aye!" roared in chorus the buccaneers below, and one or two of them elaborated that affirmation.

In a flash Captain Blood saw what was in their minds. And for all that he lost nothing of his outward stern composure, fear invaded his heart.

"And how," he asked, "do you imagine that Miss Bishop will prove such a hostage?"

"It's a providence having her aboard; a providence. Heave to, Captain, and signal them to send a boat, and assure themselves that Miss is here. Then let them know that if they attempt to hinder our sailing hence, we'll hang the doxy first and fight for it after. That'll cool Colonel Bishop's heat, maybe."

"And maybe it won't." Slow and mocking came Wolverstone's voice to answer the other's confident excitement, and as he spoke he advanced to Blood's side, an unexpected ally. "Some o' them dawcocks may believe that tale." He jerked a contemptuous thumb towards the men in the waist, whose ranks were steadily being increased by the advent of others from the forecastle. "Although even some o' they should know better, for there's still a few was on Barbados with us, and are acquainted like me and you with Colonel Bishop. If ye're counting on pulling Bishop's heartstrings, ye're a bigger fool, Ogle, than I've always thought you was with anything but guns. There's no heaving to for such a matter as that unless you wants to make quite sure of our being sunk. Though we had a cargo of Bishop's nieces it wouldn't make him hold his hand. Why, as I was just telling his lordship here, who thought like you that having Miss Bishop aboard would make us safe, not for his mother would that filthy slaver forgo what's due to him. And if ye' weren't a fool, Ogle, you wouldn't need me to tell you this. We've got to fight, my lads..."

"How can we fight, man?" Ogle stormed at him, furiously battling the conviction which Wolverstone's argument was imposing upon his listeners. "You may be right, and you may be wrong. We've got to chance it. It's our only chance..."

The rest of his words were drowned in the shouts of the hands insisting that the girl be given up to be held as a hostage. And then louder than before roared a gun away to leeward, and away on their starboard beam they saw the spray flung up by the shot, which had gone wide.

"They are within range," cried Ogle. And leaning from the rail, "Put down the helm," he commanded.

Pitt, at his post beside the helmsman, turned intrepidly to face the excited gunner.

"Since when have you commanded on the main deck, Ogle? I take my orders from the Captain."

"You'll take this order from me, or, by God, you'll..."

"Wait!" Blood bade him, interrupting, and he set a restraining hand upon the gunner's arm. "There is, I think, a better way."

He looked over his shoulder, aft, at the advancing ships, the foremost of which was now a bare quarter of a mile away. His glance swept in passing over Miss Bishop and Lord Julian standing side by side some paces behind him. He observed her pale and tense, with parted lips and startled eyes that were fixed upon him, an anxious witness of this deciding of her fate. He was thinking swiftly, reckoning the chances if by pistolling Ogle he were to provoke a mutiny. That some of the men would rally to him, he was sure. But he was no less sure that the main body would oppose him, and prevail in spite of all that he could do, taking the chance that holding Miss Bishop to ransom seemed to afford them. And if they did that, one way or the other, Miss Bishop would be lost. For even if Bishop yielded to their demand, they would retain her as a hostage.

Meanwhile Ogle was growing impatient. His arm still gripped by Blood, he thrust his face into the Captain's.

"What better way?" he demanded. "There is none better. I'll not be bubbled by what Wolverstone has said. He may be right, and he may be wrong. We'll test it. It's our only chance, I've said, and we must take it."

The better way that was in Captain Blood's mind was the way that already he had proposed to Wolverstone. Whether the men in the panic Ogle had aroused among them would take a different view from Wolverstone's he did not know. But he saw quite clearly now that if they consented, they would not on that account depart from their intention in the matter of Miss Bishop; they would make of Blood's own surrender merely an additional card in this game against the Governor of Jamaica.