The pirate is disappointed when his gestures seem to just amuse his audience and frighten off the children. He suspects that the old woman is a common source of entertainment, but right now she's feeding him and so he's in favor of her. The food is good and he's quite hungry, but there are other things to worry over.
One of those worries is taken care of when the children return with his affects. Jack beams at them and claps with approval. He grins at the girl who steps forward and holds his hands out for his compass. He takes it from her and kisses her little hand, smiling sweetly. "Thank you, love."