“It was just like the description of ghosts,” he said, with a queer little laugh.

“I see it,” said Jerry, softly. “Right by the big white birch.”

“Sure enough,” remarked the professor.

Then they all beheld a tall white form in the pale moonlight, gliding from tree to tree, on the shore of the lake.

“Look, it is picking up something from the shore,” said Ned. “Maybe it’s the hermit the miner told us about, gathering gold.”

“Nonsense,” said Jerry. “It’s probably a bit of fog, or it may be a white fox, or a wolf.”

“No fox or wolf is as big as that,” insisted Ned. “I’ll bet it’s the hermit.”

“Whatever it is, it’s gone now,” put in Bob.

And, sure enough, the object suddenly disappeared among the trees, and there was nothing in sight but the lake, the mountains and the moonlight.