"Ghosts do not leave such a broad trail as this," answered Tad.
"One of them did tonight," answered the fat boy suggestively, whereat Tad Butler grinned.
"I don't like this at all," mused the Professor. "We must keep watch every night hereafter. Have you any suspicion that the mysterious visitor played the trick on us?"
"No, sir, he did not," replied Tad soberly.
The Professor eyed Tad reflectively, then asked no more questions along this line. Tad, taking a fresh brand, followed the trail away from the camp, the others of the party bringing up the rear. Tad was recognized as the best trailer among them, so the work of following this trail was left wholly to him.
They had proceeded away from the camp in a southwesterly direction for a full quarter of a mile when Tad halted. Swinging his torch from one side to the other he finally fixed upon a certain spot. Looking up at his companions he nodded.
"Here is the place," he declared enigmatically.
"What place?" questioned Chunky, crowding in.
"The place where the visitor tethered his horse. And if you will look just to the left of Ned Rector, you will discover something else."
The Pony Rider Boys uttered exclamations of amazement. There a little to Ned's left lay a battered sombrero.