Straight out toward the beach on which the canoes lay Frank ran. He was not long in coming in sight of the shore. When he did so, he saw something that made his blood leap in his veins.

Bill Bunker was pushing off from the shore in one of the single canoes. The man could hear the voice of Hans, and it was plain he knew some one was coming, for he started to paddle away as swiftly as possible.

Frank broke out of the woods and ran down to the very water’s edge. Then he threw the gun to his shoulder and took aim toward the man in the canoe, shouting:

“Stop! Come back here, or I will shoot!”

Bunker cast a look over his shoulder and saw Merriwell. He hesitated, with the paddle poised in the air. It was plain that he was in doubt.

“I mean business!” declared Frank. “You are stealing one of our canoes, and I shall be justified in shooting you. As true as there is a gun in my hand, I’ll shoot if you do not turn about at once and paddle back here!”

No one could doubt his earnestness. Bunker did not hesitate longer, but promptly turned about and sullenly paddled to the shore.

“What were you doing with that canoe?” asked Frank.

“Well,” said the man, “I did mean to take all of them as payment for the guns you lost for Welch and I yesterday morning, but I heard you coming before I was ready to take them in tow. You will have to pay for those guns before I am done with you.”

“So that was your trick? Well, it was just what I should expect from you.”