Ralph Towers and his cousin Harry Saxon have been at boarding school together ever since they were orphaned at around the same time, six years earlier. Their only living relative, Major Bengough of Bombay, has been paying their school fees regularly—but the money suddenly stopped coming nine months ago. It seems that Major Bengough was due to depart for England by ship around this time, but the ship has not been heard from since its departure, and has not made it to England. The school principal, Dr Job Consett, wants the tuition paid quickly, or else the boys must leave. Ralph and Harry receive confirmation that the Major has been lost at sea, and that he has left an inheritance that will mean an income of £7000 a year to one of the cousins. But just as it seems they have made their fortune, things go awry for Harry and Ralph.
