The crocodile!

No sooner did Peter remember it than he heard
the ticking. At first the thought the sound did come from the
crocodile, and he looked behind him swiftly. They he realised
that he was doing it himself, and in a flash he understood the
situation. "How clever of me!" he thought at once, and signed
to the boys not to burst into applause.

It was at this moment that Ed Teynte the quartermaster emerged
from the forecastle and came along the deck. Now, reader, time
what happened by your watch. Peter struck true and deep. John
clapped his hands on the ill-fated pirate's mouth to stifle the
dying groan. He fell forward. Four boys caught him to prevent
the thud. Peter gave the signal, and the carrion was cast
overboard. There was a splash, and then silence. How long has
it taken?