Though the illustrations are different (a later edition features 5 illos including a two-pager) the dramatic climax is the same. Nancy, close on the heels of the crooks, hides out in a shed near the river (she actually hides inside a packing crate.) The usual storm is brewing and she is found soon enough by one of the bad guys. In this case it's "Bud" who viciously strong-arms Nancy while cramming a hanky deep into her mouth! The hanky is rammed in so deep that it causes Nancy to choke and suffocate into passing out. Unfortunately, there is no illustration for this scene.
When Nancy awakens she's on a couch sans gag. She hears the crooks arguing and makes a break for it, only to be quickly caught. This time it's "Tom" who does the strong-arming while Bud gets a length of thick rope. He cruelly ties Nancy's hands behind her back, the ropes cutting into her flesh! The ring-leader, Mary, at first wants to leave Nancy to starve to death but then remembers another hiding place far away and gets designs on ransoming her to Carson Drew. Mary orders her gagged and Nancy pleads to deaf ears. Bud warns Tom not to shove the gag in too deep, lest Nancy pass out again. Nancy is then dragged to a boat in the rain and without her shoes on! By this time her ankles are also bound but it's not alluded to.
On the stormy river, the crooks' boat is hit by a yacht and begins to sink. Nancy is tossed across the cabin and ends up on the deck. Bud wants to untie Nancy but Mary infers "Who's to know?" Meaning the obvious. The crooks abandon ship leaving Nancy to her fate.
But luck is with Nancy (sort of) as the boat drifts toward the dock. By now her gag has worked loose and she screams for help. The sinking boat is boarded and Nancy's asked why she just can't walk out. "I'm bound!" is her reply. As soon as she's untied, she goes after Mary and after tripping her up sits on her until the authorities can take over.
Below are the newer illustrations including Nancy and Helen's canoe-swamping peril, the fire scene, Nancy disguising herself and an new version of the "gag" scene.