It was Bud Heyland who spoke, and in the dim light his companions saw that he was right. There was a small, natural clearing, which enabled them to observe the blasted oak without difficulty.

The little party stood close by the hiding-place of the plunder that had been taken from the old brick mansion several nights before.

"You can reach down to it, can't you?" asked Sutton, addressing Bud Heyland.

"Yes; it's only a little ways down."

"Hand it out, then," added Kincade; "I shan't feel right till we have all this loot safely stowed away with Tom Carmen at the 'Four Corners.'"

"All right," responded Bud, who immediately thrust his head and shoulders into the cavity.

He remained in this bent position less than a minute, when he jerked out his head as though some serpent had struck at him with his fangs, and exclaimed:

"It's all gone!"

"What?" gasped Jake Kincade.