By the weight he knew what he had found, before he opened it—the bag was full of gold.

Slowly he drew everything out of the place. All the gold taken from the bank and from Taloona lay at his feet, together with a miscellaneous collection of jewellery wrapped up in a small square of canvas. But there was no sign either of papers or bank-notes.

It was out of the question for him to attempt to remove the treasure to the bank there and then. All he could do was to make it as secure as possible until, at a later day, he could return with a conveyance and carry it back to the town.

On the far side of the bluff he discovered a crevice formed by an overhanging ledge. It was a place even more difficult to trace than the fallen tree, and here he placed everything, keeping only a gold watch which bore Harding's name. Then, having obliterated, as nearly as he could, every mark which would be likely to reveal the hiding-place, he made his way back to his horse.

He rode to the margin of the pool, and walked along the track until he was opposite the streak of mud stain in the water. The horse and wheel-tracks turned towards it and, standing up in his stirrups, Durham saw that the water shoaled with a wide ledge of rock running directly into the pool.

Putting his horse to it, the water was barely a foot deep on the rock all the way across to the opposite bank. Here the horse and wheel-tracks reappeared, turning sharp to the left through the bush, and passing over a dwarf ridge from the summit of which he caught sight of the mountain road where it turned down to the ford.

Still following the tracks, they led him once more to the water's edge. He entered it, and continued close to the shore until he suddenly emerged on to the rock which formed the break in the road over which the stream rippled.

He rode on to the road and reined in his horse near the spot where he had first seen the pool the night he was on his way to Waroona Downs. Had he not just ridden along the track round the edge of the water, he would not have believed it was there, so absolutely was it hidden from the roadway.

For a moment he hesitated whether to go on to Waroona Downs or return to the township at once, and arrange for the treasure to be removed. But the anxiety gnawing at his heart decided for him and he wheeled his horse and set off at a canter for the station.

As he came out to the level road he saw, riding towards him, the object of his regard. Mounted on a fine dark chestnut she was coming along at a hand gallop. She waved her hand as she caught sight of him, and he pulled up to wait for her, watching, with more than admiration, the magnificent seat she had and the easy grace with which she managed her horse.