It was yet comparatively early in the night when they completed the broad half circle and came opposite the point of their first arrival. The occasional clearing of the moon had been of much help, and they had every reason to be satisfied with their progress. But before coming to a pause, they were puzzled by a discovery for which at first they could not account.

The gleaming point that had served as a guide was nowhere near them. It seemed like an ignis fatuus that recedes as the traveller tries to approach it. So far as the lads could judge they were no closer to the light than before.

"That's the queerest thing I ever saw," said Alvin, as he and his companion stood on the edge of the wood. "I thought we should run right against the boat, and now there is no chance of doing so."

"It must have crossed to the other shore while we were passing round the head of the inlet," suggested Chester, as much perplexed as his chum.

"Then we shall have to turn back."

"And have it give us the slip again. That can't be the explanation, Alvin; we should have heard the engine in the stillness. Ah! I have it! The Deerfoot is not near either bank, but anchored in the middle of the cove or beside a small island."

This obviously was the explanation, but it did not improve the situation, so far as the searchers were concerned. With the partial illumination given now and then by the moon they could not catch the faintest outlines of the boat. It might have been a dozen miles away.

"It looks as if we were up against it," remarked Alvin, with a sigh. "We shall have to wait until daylight and may as well go back to Uncle Ben's."

Chester was silent for a minute or two. He was turning over a project in his mind.

"The boat can't be far off," he said. "What do you say to my taking off my clothing and swimming out to it?"