Tad's rifle leaped to his shoulder. A crash echoed through the forest and seemed to rattle among the canes all down the line. There was a sudden and terrific commotion in the water where the black spot had been seen, a floundering and threshing and a lashing of the waters, for Tad's bullet had sped true.

But there were still other circles, each now rapidly drawing nearer to where Stacy lay wide-eyed and motionless.

"Get him!" yelled Tad as Ned Rector sprang from his tent.

Ned comprehended on the instant. He saw Stacy out there in the water, Tad on shore with rifle held slightly forward from his stooping body, alert and ready to shoot. Ned did not wait. He took a running jump, landing in the lake with a mighty splash, and came up shaking the water from his face and lunged toward Stacy.

"Get out of this!" roared Ned.

"I—I can't," wailed the fat boy. "I—I'm too scared."

Ned Rector smote the fat boy with his doubled fist. It was the best thing Rector could have done in the circumstances, for it stirred Stacy to sudden activity. With a yell, Chunky threw himself over on his stomach and began striking out desperately for the shore, with Ned, yelling and threatening, following close behind.

Tad's rifle spoke again. It was just in time to stop a 'gator whose snout was suddenly thrust above the water a few feet behind Ned. All this had occupied only a few seconds, but they had been active seconds in every sense of the word, seconds fraught with peril and quickness on the part of two plucky boys.

A third time did Tad shoot. Though excited, his excitement did not appear to affect his aim, for the Pony Rider Boy had not missed once. With the third and last shot, Stacy's fingers clutched a bush on the lake edge. The boy pulled himself from the water and fell over in a heap on the bank.

"Get up. Get out of that!" commanded Tad. "Don't stop there."