(Ugh! Recently my friend Meg told me about how she was reading some comic books and it was really difficult to keep up with all the histories and revisions and various universes, so she "was reading with one hand on Wikipedia." Now I now know exactly what she means!!!)
This chapter included all kinds of references to stuff from waaaay back when, that I only barely remember. Most of the time I was just like Wah? Master Billy? Huh? But thank heavens for this website because I think I've got it all under control now and hopefully this will make some sense to people in the future who read this.
Here are the things you need to remember in order for this chapter to make ANY SENSE:
The Black Bee -- See Chapter 106. This is Frank Muto's boat. Allison is hoping to find the Black Bee because she thinks it will give her clues to finding her brother Hugo. Her quest for the Black Bee is what got her hooked up with Capital Sam and why she's now driving the Spire of Ice.
Master Billy -- See also Chapter 106. As near as I can tell/recall, Master Billy was Frank Muto's 2nd in command. Or his Gilligan, or whatever. Back in Ch. 106, some guys confused Hugo with Billy, but the Billy in Ch. 115 is NOT Hugo.
Frank Muto/Mutt - Frank is more of a major character who you probably remember, but just in case, he's the guy whose feet got cut off after he tried to kill Hugo by throwing him off the Black Bee, which is what caused Hugo to wash up on shore with a chain wrapped around his leg (Ch. 1), and which Frank did because Hugo had put Frank's daughter Delia into a coma. More refresher on this in Ch. 105.
SO keeping all that in mind, here's what happens in this chapter:
They find the shipwreck of the Black Bee (in the middle of the ocean???) and rescue Master Billy. He now refers to himself as Cap'n William Smith, great. There was a mutiny on the Black Bee, Billy I guess threw Frank overboard but then all the other sailors got scared and took off leaving him alone. He's scared of running into Frank Muto, so he becomes the Spire's new captain. He's not actually able to confirm that the person Frank threw off the boat was Hugo, but Allison gets enough details to confirm it. So now I guess they're off to go find where the exact spot is that they went overboard.