"Not!" returned Dalzell with emphasis. "If I agreed to it, it would be just my luck to have the lot fall to me. For the next half hour I don't want to do a thing but feel the water around me all the way up to my neck."

"What's the use of a guard over our clothes?" queried Dave. "There isn't another soul besides ourselves in these woods this afternoon."

"Go on thinking that!" chuckled Teall.

Running out on a log and putting his hands together, Dick dived.

"How's the water?" called Tom.

"Cold," Prescott answered, blowing out a mouthful as he struck out for the middle of the pond. "You'd better keep out."

"He wants the pond all to himself," muttered Tom, and dived at once.

In a moment all six boys were in the water, sporting about and enjoying themselves.

"I wish they'd get further away from here," thought Ted wistfully. "They're hanging right around here. If I show myself they'll all swim in. There wouldn't be time to do anything."

All too late Ted heard some one coming through the woods behind him. He crouched, ready to crawl away to privacy, but found himself too late. Hi Martin parted the bushes as be forced his way through.