"Not exactly, but I inferred from what he did say that you had some business connection."
"Yes," answered Bowman, hesitatingly. "We have a joint investment. I don't think, however, that we shall remain connected long. He doesn't suit me. He is too slow and cautious."
Fred did not think it necessary to comment on this statement.
They went down to the lake, and were soon rowing to the middle of it. Here they tried fishing, but did not meet with much success. They gave it up and rowed across to the opposite side.
"Will you take charge of the boat for half an hour?" asked Bowman, turning to Fred. "I am going on shore."
"Certainly, if you wish it."
"I have a fancy for exploring these woods. I would invite you to go with me, but the boat might be taken, and that would subject us to some inconvenience."
"I would just as soon stay here," said Fred carelessly.
"Then it's all right."
Fred watched Bowman as he made his way in among the trees, and it struck him at once that ha had secreted the bonds somewhere in the neighborhood and was about to visit the hiding-place.