Thane forced a laugh.

"Well, I'm up here, all right. You've got me treed. What's the idea? Waiting for me to come down?" No answer, "Say, it's worth a lot of money to you if you'll just walk on and forget that I'm up here. I'll give you my word of honour to come across with enough to put you on easy street for the rest of your life." He heard the man below walking up and down the path.

"Did you hear what I said? You can't pick up twenty-five thousand every day, you know." He waited for the response that never came. "Honesty isn't always the best policy. Think it over." Another long silence. Then: "I suppose you know the government does not pay any reward." Still that heavy, steady tread. "If you think I'm going to come down you're jolly well off your nut." He wriggled nearer the edge and peered over. The black form shuttled restlessly back and forth past the foot of the ladder, for all the world like a lion in its cage. Presently it moved off toward the bend at the corner of the cliff, where it stopped, still in view of the man above,—a vague, shapeless object in the faint light of the moon.

Many minutes passed. Ten, fifteen,—they seemed hours to the trapped fugitive,—and then he heard a voice, suppressed but distinct.

"Who's there?"

There was a moment's silence, and then another voice replied, but he could not make out the words.

The man stepped out of sight around the bend. A few seconds later, Thane heard a jumble of voices. Drawing away from the ledge, he slunk deeper into the cave. He heard some one running along the trail, and a muffled voice giving directions. He drew a deep, long breath.

"The death watch, eh?" he muttered. "They're going to sit there till I have to come out. Like vultures. They haven't the nerve to come up here after me. The rotten cowards!"

Then he heard something that caused him to start up in a sort of panic. He stood half erect, crouching back against the wall, his eyes glued on the opening, his hand fumbling nervously for the revolver in his pocket.

Some one was climbing up the cliff!