Read it through once

The way we came to mistake the sounding-boat's lantern for the buoy-light was this. My chief said that after laying the buoy he fell away and watched it till it seemed to be secure; then he took up a position a hundred yards below it and a little to one side of the steamer's course, headed the sounding-boat up-stream, and waited. Having to wait some time, he and the officer got to talking; he looked up when he judged that the steamer was about on the reef; saw that the buoy was gone, but supposed that the steamer had already run over it; he went on with his talk; he noticed that the steamer was getting very close on him, but that was the correct thing; it was her business to shave him closely, for convenience in taking him aboard; he was expecting her to sheer off, until the last moment; then it flashed upon him that she was trying to run him down, mistaking his lantern for the buoy-light; so he sang out, 'Stand by to spring for the guard, men!' and the next instant the jump was made.