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With uncle Jim holding Dr. Chepeto, jack and his friends look for the henchman, Michel. They are sure he hasn’t gone overboard, but where is he? They spot him up in the rigging, but the man refused to move. Can Jack and Billy corner him? What if he tosses the ring and charts overboard?
The boys get closer, but Michel dives into the harbor. He’s been underwater for a while and hasn’t come up yet. The gang manages to track his underwater progress in the phosphorescent water.
Michel still hasn’t surfaced for air, but Jack and Billy follow him easily in the skiff. As they keep an eye on the water, they also notice that Chepeto has made it back to the Black Shark. When a real shark approaches Michel, the boys comment on the battle going on under the water.
Finally out of breath, a grateful Michel is glad to be rescued and now devotes himself to his saviors.