The daily Alaskan., 1922-01-12

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 q ainf saving she Is." Mfr. Gibney retorted testify. 'Lemme finish read ln'T He continued:
 REPORTS PASSING DERELICT
 "The steam schooner Arethusa, Grsys Hsrbor to Oakland Long wharf, reports passing a derelict schooner twenty miles of Point Reyes at six o'clock last night. The derelict was down by the head, and her rail just showed above the water. It was im- possible to learn her identity.
 'The presence of this dereIict in the steamer lanes to North Pacific ports Is a distinct menace to naviga- tion, and it Is probable that a revenue cutter will he dispatched today 10 search for the derelIct and either tow her Into port or destroy her"
 "Gentlemen O the syndicate, them's the only two items In the shlppIn' page that looks likely. The question Is, in which lies our fortuneT
 Nens Halvorsen spoke up, giving 1t as his opinion that the fortune-tellIng lady probably knew her business and that their fortune really lay at sea. The derellct was at sea. How else, then. could the prophecy be Inter preted7
 Well, this steamer Victor Isn't eX- actly travelling overland" McGuffey suggested. He had a secret hanserlng to mess around some real engines again, and gave It as his opinion that fortune was more likely to Turk in a solid stern-wheeI steamer with good engines and boilers than in a battered hulk at sea. Captain Scraggs agreed with him most heartily and a tie vote resulted, Mir. GIbney lnolIning toward the derelIct.
 "Whatre we Coln' to do about lt, GIb7" Captain Scraggs demanded,
 When in doubt, Scraggsy, old tar pot, always play trumps. In order to make no mistake, right after break fast you an McGuffey so down to Jackson street wharf an interview this man COskley about hls steamer Victor. You been Eoin' tO sea long enough 10 know a good hull when you see lt an f We can't trust Mac 10 know good set of inner works we'd better dissolve the syndicate. As for me an NeilS, we'll go down to the Front an charter a tug an chase out after that there derelict before the revenue cutter gets her an blows her out O the path O commerce with a stick O dynamite"
 Forthwith Mir. Gibney and Neils, after snatching a nasty breakfast, de- parted for the waterfront, where they chartered a tug for three days and put to sea. At about ten o'clock Cap tain SCraggs and McGufrey strolled leisurely down to Jackson street wharf to inspect the Victor. By noon they sDectIon Of the steamers hull and boilers. and bought her in for seven thousand dollars. Captain SCraggs was delighted He said she was worth ten thousand. Already he had de- cided thAt heavy and profitable freights awaited the syndicate along the Sacramento river where the farm CTS and orchardiStS had been for years thp victims of a monopoly and a. gentlemen'S agreement between inc two steamboat lines that piled be tween Sacramento Stockton and San Francisco
 On the afternoon Of the third day Mir. Gihney and NcilS Ha'vOrson re- turned from sea. They were unur CT ably weary and holIow-eyed for lack of sleep.
 Well. | suppose you two suckers found that dercIict" challenged Me Gufrey
 Yep. Found her an got a line aboard an lowed her In. an lt was a tough job. Shes Iayin' over on the Berkeley tide flats. an al lowtide to- morrow we'll go over an find out what we've got. Don't even know her name vel. Shes practically sub merged"
 "I think you was awful foolish, Gib, buyin' a pig in a poke that way. l don't believe in CoIn' in blind. Me an Macs bought a real ship. We own the Victor
 "Tm dead on my feet" growled the commodore. and jumping Into bed he refused 10 discuss the matter further and was sound asleep in 8 iIffy.
 (Coutinued on Saturday,