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"Don't tell me any more," she said; "I know the rest. Let's talk

about the present."

"Thanks, Elsa," he said, gratefully.

"How long have you thought that the schooner was a second 'one

hoss shay'?"

"Until this talk with you. I would never have thought anything

else. It's the logical thing to think, isn't it? All my neighbors

at Freekirk Head, except those who believe the evil they hear,

have told me half a dozen times that that is what must have

happened to the May. She had lived her life and that last great

strain, combined with the race the week before, was too much for

her. I simply could not explain those things happening."

"Yes, but you can now, can't you?" she asked coolly.

Reluctantly he faced the issue, but he faced it squarely.