"Didn't I tell you?" he asked triumphantly. "I knew I'd get him some day—this is my stolen broncho." And then patting the pony's neck affectionately, he added: "Good old fellow. I'm glad to have you again."

He had indeed recovered his pony. Probably awaiting the departure of the Pony Riders from Ruby Mountain, the desperadoes had kept the pony—with two others—secreted in the mountain chamber. The other two ponies did not, however, belong to the Pony Rider Boys, much to the disgust of the latter.

"Just Tad's luck," growled Ned.

CHAPTER XXIV

CONCLUSION

Before the Pony Rider Boys had an opportunity to voice their astonishment, Rose held up a hand for silence. Voices were heard approaching.

"Hurry, hurry!" she whispered excitedly, leading the way through a low, narrow opening into another part of the cave.

Tom Phipps's hat was knocked off by the low archway, but not realizing the loss of it, he did not stop. As they entered the second chamber, which was even more brightly lighted than the one they had just left, they heard the sound of water, but were unable to locate the stream which they knew must be near by.

The voices died away to a low murmur and the girl who had been trembling violently, began creeping cautiously toward the opening to reconnoitre when all at once she started back with a little cry of alarm.

Before the eyes of the astonished boys there suddenly appeared two men. Mr. Phipps's hat had warned the men of the presence of strangers in their stronghold. Their faces, therefore, reflected anger instead of surprise.