He did not know just how long he had been dead to the world at the time something moving caused him to open his eyes.

The moon had climbed so high that he knew some hours must have passed.

Yes, there was certainly some one moving about in the tent. Max, of course, first of all thought of Ted Shafter and his cronies, and wondered if, after all, the rival Carson crowd could have found them out.

Next his thoughts flew to the unknown shell gatherers, and a suspicion that perhaps one of them had invaded the camp, bent on stealing the valuable pearl, filled his mind.

This caused Max to raise his head, and turn his eyes toward the tent pole where the haversack containing the precious pearl hung.

Sure enough, there was some one standing there, and actually fumbling with the bag.

To the intense surprise of Max he recognized the dimly seen figure.

It was Steve.

CHAPTER V.

A PUZZLER FOR MAX.