Phyllis took in the whole situation. From her safe vantage in the tree, even more certainly than Madge, she realized the fate that must soon overtake her chum.

Phil's tree was only a few yards from the place where Madge had fallen. Without an instant's hesitation Phyllis Alden dropped to the ground. She must have made one flying leap, for she landed in front of the little captain's prostrate body. If Madge were to be trampled to death, that fate should not come to her alone.

Phil had marvelous presence of mind. What she did she must have done by instinct. There was no time to think. She saw the flecks of white foam between the teeth of the horse that was leading the charge. As it bore down upon her Phyllis lifted up both arms. She gave a wild and unexpected shout, waving both arms frantically before the horse's face.

The horse paused for the fraction of a moment. Phil waved more violently than ever, shouting hoarsely and in more commanding tones. The horse was startled. He looked at Phil with his ears erect and his eyes restless. Then he deliberately swerved from the path that would have led straight over the bodies of the two girls, made a sweep to the right, and thundered on, followed by his drove of wild horses.

From her position, face downward on the ground, Madge had been acutely conscious of everything that had occurred. She seemed to have seen with her ears rather than her eyes. She knew that Phil had risked her own life to save hers, and that Phil's presence of mind had saved them both.

"It's all right, dear," remarked Phil coolly, when the horses had passed out of sight. But the hand she reached out to Madge to help lift her from the ground was trembling.

Once she was on her feet the little captain caught tight hold of Phil's arm.

"It was real, wasn't it, Phil? We did see a drove of wild horses dash by us?"

Phil nodded calmly. "It was much too real for a few seconds," she rejoined. "Now I understand the far-off noise of the tramping of many feet that we have heard before. These horses must always stay herded together. When they are weary of grazing they make these wild rushes. How do you suppose they ever came on this island?"

Madge shook her head. She had no possible guess that she dared to make.