"It's a sunken valley," exclaimed Ralph.
And so it was, in fact.
"Look at the cattle and horses, will you?" cried the practical Walt Phelps, who had been gazing about him.
"Sure enough. There must be several score head of stock in here," was Ralph's astonished cry.
"Say," exclaimed Walt suddenly, "do you know what I believe?"
"What?" inquired Ralph.
"That by accident we have stumbled upon Black Ramon's pasturage."
"What!—the place where he keeps the stolen cattle and horses?"
"That's the idea."
"Say, I believe you are right, and, speaking of that, there's something very familiar looking about that little buckskin pony, feeding off there." Ralph pointed at a small animal cropping the grass some ten rods away. "If that isn't Petticoats—the one that tumbled me into the canal—I'll lose a bet, that's all."