"Sure," replied Billy, and he told about the wreck.

"Well, he's got someone acting for him here all right," went on the ranch owner. "He's started another suit against me, and, though I know it won't amount to anything, still it holds up operations for a while."

"How is the dam coming on?" asked Billy.

"Pretty well. It's nearly completed, all but a small stretch that goes across the land that leads to Golden Peak. It is this little piece that's in dispute, not because that strip on which the remainder of the dam will stand is of any value, but because it's the only entrance to Golden Peak, and that's why they don't want me to use it."

"It's too bad," consoled Frank. "And is there really any treasure on the Peak?" he added eagerly.

"Treasure!" laughed Mr. Thornton. "Not a bit of it! That is all bosh—moonshine—it's like a lot of other stories that originate out West and keep growing until a lot of people believe 'em. The only treasure of Golden Peak is the sunshine and fresh air. I wish I could bring those fellows to their senses. Then I could go ahead, finish the dam, and have water enough so I could get bumper crops, and raise some decent cattle. As it is, I'm held up, and so are a lot of my neighbors who are going to get water from my lake.

"What we'll have to do, if this thing keeps up, is to organize, and drive these fellows out of the country. But never mind that now. How did you make out, Billy? Have you that paper safe? What kind of a trip did you have?"

Then began rather a long series of questions and answers between Billy and his uncle, and, as they can have very little interest for my readers, I will omit them. Sufficient to say that Billy told of the attack on himself and of how the Racer boys came to his rescue, and how he was followed by Shackmiller even on the train.

"But the wreck put him out of business," added Billy; "though he is still active, if that telegram was from him," and he related what the operator had said.

"Humph!" mused Mr. Thornton. "Well, I don't know just what to think. If Shackmiller is out of the way, even for a little while, it may be a good thing for us. On the other hand, it may force matters. We'll just have to wait and see what happens. But I reckon you boys are tired, and you'd like to get out to the ranch, and rest up."