Ted nodded and waved his hand, and they were off. Colonel Billings certainly did have a splendid ranch. They rode for miles within the fences before they came to the west gate.

"Think we better go any farther?" asked Ted, when they had come this far.

"Yes. Let us go on," replied Stella. "We have plenty of time, and I would like to see just how big this ranch is."

"Don't forget the red bull," said Ted, as he closed the gate behind them.

"I've seen many a dangerous bull before," laughed Stella.

"If we find him and he takes after us, keep on the far side of me. I don't much fancy that pony you're on."

"I don't myself. I wish we had a bunch of Moon Valley ponies here to ride. I've never seen any that could come up to them."

They were following a trail that led directly into the west. It was a cattle trail, and Ted's practiced eye told him that it led to water. Several miles to the west he saw the plain became broken.

"There's water over there," he said.

"That's where we'll find the cattle," answered Stella. "Do you want to go that far and look at them?"