The boys had completed their first target practice, in which Tad and Ned had carried off even honors, with Walter Perkins a close second, while Stacy Brown had hit pretty much everything within range except the target itself.

About the best they had been able to do with him was to induce him to keep his eyes open, at least, until the first finger of his right hand had begun to exert a gentle pressure on the trigger. Then, he would pinch his eyelids so tightly together as to compress his forehead into a series of small ridges.

Their practice had lasted some two hours, and now they were once more picking their way over the rough mountain trail, headed for Bald Mountain, and discussing the happenings of the night and morning.

Considerable amusement was afforded them when, on the journey, old Bobtail, as they had named the Professor's cob, stumbled and threw its rider over its head.

Fortunately, Professor Zepplin was not injured. He explained that he had had too many similar disasters while an officer in the German army, and that he did not mind a slight mishap like that at all. He declared that it reminded him so much of his younger days that he really enjoyed the sensation of falling off.

This caused the Pony Riders to shout with laughter, and Ned confided to Tad, by whose side he was riding, that he never knew the Professor was such a real sport.

From then on the afternoon passed quickly. Although the sun was shining brightly, the air was cool and invigorating, and a gentle breeze fanned their cheeks when the riders reached the higher places.

At such times the boys would break into exclamations of wonder at the gorgeous panorama which unfolded itself before them.

"Makes a fellow feel as if he were walking on air, doesn't it?" bubbled Stacy Brown.

"You will be in a minute, if you don't watch out where you are going," warned Ned, observing that the boy had unconsciously pulled his horse too near the outer edge of the trail. "Walt tried that last night, and you know what happened to him."