Reclaiming an old boat, for which they paid $5.00, provided endless happy hours for three boys, Leif, Walt and Butt, Calking, scraping and painting demanded most of their energies and all their funds. Pudgy Butt earned money by rowing, for his father promised him fifty cents for each pound he lost. And through working together on a farm the boys earned the rest of the money they needed to restore their craft. But Leif pushed his luck too far. When he took the boat out to defy Sea Break, a treacherous rocky projection, the boat went down, leaving Leif with the responsibility of paying his two partners for their share in the wrecked vessel. A true-to-life account of three boys, an old boat and a good summer.