“Unless they saw something of Skeel, or Sam and Nick, and followed them off through the woods. Maybe the hermit himself passed here, and they thought he was on the trail of the treasure. They would naturally follow him, and if I wasn’t here they would not wait for me, knowing they could explain afterward. I’ll wager that’s it. They’ve gone for the treasure. It’s all right after all.”

He felt a little better, having arrived at this decision, and proceeded to get himself a meal. He lighted the stove, made coffee, and fixed up some sandwiches from a tin of beef. It was while sipping the hot beverage that another thought came to him.

“I wonder if they went away prepared to stay all night?” he asked himself. “I’ll take a look.”

In the main, or sleeping tent, the cots had been made up that morning, as was the rule, so that, no matter how late the chums returned to camp, they could tumble into bed. The cots showed no signs of having been disturbed when Tom inspected them with a lantern. And then the lad saw something else.

The caps and sweaters of his chums still hung from the ridge-pole of the tent.

“By Jove!” cried Tom aloud. “They would hardly go off that way—in the dampness of the night—without having taken more than they wore when I started on my walk. And they had on mighty little then. Even if they had to take the trail on the jump there would have been time enough to slip on a sweater, and grab up a cap. Those fellows went off in a big hurry.”

He paused, to gaze in silence around the tent. He was more lonely than ever, as he recalled the jolly faces that he had thought would greet him on his return from the stroll in the woods.

“And here’s another thing,” he reasoned. “If they did take the trail after some of our enemies, one of them would most likely have remained to wait for me, and tell me to come along. I’m sure they’d have done that. And yet—they’re all gone, all three of them!”

Tom Fairfield shook his head. The problem was becoming too much for him. He sought for a ray of light.

“Of course,” he reasoned, “there may have been two parties of them. Skeel and the two cronies in one, and the old hermit by himself. In that case the boys may have divided themselves. Maybe that’s it. Oh, hang it all!” he exclaimed as if he found the puzzle too much for him. “I’m going to wait until morning.”