"I'll find out more about it from the old chap and let you know," Biff promised.

"Find out more about the treasure," advised Chet. "Find out if it is in gold or silver and if we have to dig for it, and if there's enough to divide up among the crowd of us."

"So far as treasure is concerned, I don't hold much stock in these stories usually," said Biff. "But this old chap said that a gang of wreckers at one time lived in these caves. They had a pleasant little habit of changing the lights on the buoys along the reefs and wrecking ships. Then they would rob the vessels and store the loot in the caves."

"Good night!" exclaimed Tony. "Regular pirates."

"I'll say they were. Of course, all this was years ago. The gang was wiped out eventually and some of the leaders were hanged, but this old chap I was talking to said that very little of the loot was recovered. Of course, it may have been sold or shipped away, but he believes a lot of it is still hidden in the caves!"

"Hasn't any one ever hunted for it?"

"Oh, yes. But they've never found anything."

"Why should we?" asked Chet.

"Why shouldn't we? And what does it matter if we don't? We might have some fun making the trip."

"I think it's a good idea!" approved Frank Hardy. "We can take the motorcycles, run down there and poke around, and then come back. Of course I don't think we'll find any treasure, but it'll give us some sort of an objective, anyway."