“You’ll probably think I’m crazy,” said Sandy, after greetings had been exchanged and they had settled themselves on the veranda of the Baltimore Hotel in Panama, and with iced drinks before them prepared to listen to Sandy’s tale. “In the first place I had better tell you that after leaving the Service I went to Malaya, rubber-planting. Things went wrong and I drifted about until I got a job at one of the trading posts of the North Equatorial Company. I made a bit of money in copra and shell, and a couple of years ago started off on my own. I now have a nice little place at Rarotayo. “About eighteen months ago I happened to mention pearls to my head boy, who, by the way, is a real old Polynesian. He told me quite casually that he knew where there were plenty, but it was impossible to ge

