This time Bob carried the canoe and Mr. Waterman went ahead. It was not until they had come almost to the next lake that Mr. Waterman noticed a tree from which a piece of bark had been chipped off.

"That's funny," said he.

"What's funny?" asked Bob, who looked all around but could note nothing out of the way.

"That tree," replied Mr. Waterman. "That piece of bark was knocked off by something out of the ordinary."

"Maybe he bumped into it with his canoe," replied Bob.

"Hardly," replied Mr. Waterman. "A real woodsman does not bump his canoe into trees and other things along the trail. He avoids them by instinct."

"That is probably true," said Bob, "but the only time he could steal those things from camp would be at night, and he might hit a tree then."

"You're right," said Mr. Waterman.

Once more they emerged at a lake. This one was fairly large. They paddled slowly around it but could see no sign of a trail except the one at the far end. This was a long trail over a low divide and Mr. Waterman did not seem to want to start on it.

"I don't want to set out on this trail because it is about five miles long and we could not get home to-night. Anyway, I have a hunch that this fellow has piked off to the north. It's the easiest thing in the world to cover up a trail. Let's go around this north end of the lake again."