The Pony Rider Boy circled slowly about the scene, using his eyes to good advantage. He saw the prints of a heavy boot in the soft ground; then he discovered that the bushes had been crushed down where the doe had been dragged. It was a plain trail up to a certain point, and there the trail changed. Further investigation showed the lad that a horse had been tethered to a tree nearby, and it was at the base of this tree that the dragged-trail came to an end.

Butler understood the meaning of this when he discovered quite a pool of blood on the leaves of some trampled bushes. Some person had stolen his deer and loaded it to the back of the horse. Following the trail still farther, Tad saw that the man had ridden away with his prize.

"It is plain theft, nothing more or less," muttered the boy, as he started back to Stacy.

"Well?" questioned the fat boy.

"Stolen!" answered Butler sharply.

"You don't say so? Who did it?"

"How should I know? I shouldn't be surprised if the man saw me hang the deer there, then as soon as I got away he stole the carcass. Wasn't that a measly trick?"

"Beastly," agreed Stacy.

Tad stood pondering.

"What are you going to do about it—tell Mr. Lilly?" questioned Stacy.