"We'll soon learn," said his big brother, and opened up the still wet leather. Inside were several bank bills and a fat envelope.
"Uncle Randolph's missing traction company bonds!" cried Dick, bringing them forth. "This is the best ever!"
"Are they all there?" asked Tom.
Dick counted them over rapidly.
"Yes—ten for one thousand dollars each."
"Hurrah!" shouted Sam. "Won't Uncle Randolph be glad when he hears of this!"
The boys were highly elated over the find, and now they had the bonds they concluded that a further search for Sid Merrick could wait. They did not care whether Tad Sobber was captured or not, as they did not think the bully was much of a criminal.
When they got back to the sloop they found that the others had bound John Pike's hands behind him. The robber was very meek, and he declared that Sid Merrick was to blame for everything.
"He wanted to sell the bonds many times," said Pike. "But he knew that Mr. Rover had advertised the numbers in the newspapers and he was afraid to do it. He said he would wait until the affair blew over. Then he was going to sell out, divide up, and go to Europe."
Pike added that the boat had belonged to himself. She was an old craft and was allowed to remain on the rocks. It came out later that Pike had formerly lived on the lake shore and had thus become acquainted with Merrick and the Sobbers.