Perhaps the incident was closed. The rider might be innocent of any evil intentions; he might by this time be riding straight away from the arroyo. That was for Sanderson to determine.

The rider of the horse—a black one—had seemed to be riding stealthily, leaning forward over the black horse's mane as though desirous of concealing his movements as much as possible. From whom?

It had seemed that he feared Sanderson would see him; that he had misjudged his distance from the gully—thinking he was far enough away to escape observation, and yet not quite certain, crouching in the saddle to be on the safe side in case he was nearer than he had thought.

Sanderson waited—for only a few minutes actually, but the time seemed longer. Then, just when he was mentally debating an impulse to climb to the top of the gully, to see if the rider was in sight, he heard a sound as of a heavy body crashing through some underbrush, and saw two riders skirting the edge of the arroyo near him.

They halted their horses back of the spruce trees near the arroyo edge. The rank undergrowth in the timber prevented them seeing Sanderson's horse—which was further concealed by the thicket of alder. The men, however, did not look into the arroyo. Their attention and interest appeared to be centered upon the actions of the first horseman. Sitting erect in their saddles, they shaded their eyes with their hands and gazed northward.

After a short look, one of the men laughed, unpleasantly.

"Sneakin'—he is," said the one who laughed. "Knows we're campin' on his trail, an' reckons on givin' us the slip. I never thought Bill would go back on his friends thataway. We'll make him sweat, damn him!"

The other cursed, also. "Hoggin' it, he is," he said. "I ain't never trusted him. He won't divvy, eh? Well, he won't need it where he's goin'."

Both laughed. Then one said, coldly: "Well, I reckon we won't take chances on losin' him again—like we did last night. We'll get him right now!"

They urged their horses away from the edge of the gully. Sanderson could hear the clatter of hoofs, receding. He had heard, plainly, all the conversation between the two.