They must have sunk with the wreck." The two officers looked down at the sinister name, and at the stump of wreckage which floated in the discoloured water.

Something black washed to and fro beside a splintered gaff and a tangle of halliards.

It was the outrageous ensign, and near it a scarlet cap was floating.
"He was a villain, but he was a Briton!" said the captain at last.
"He lived like a dog, but, by God, he died like a man!" THE END..