“No,” Penny denied soberly. “I noticed something about the rider that made me think—but then I’d better not say it.”

“Please go on.”

“No, I have no proof. It would only be a guess.”

“I think you’re mean to keep me in the dark,” Louise pouted.

“Maybe I’ll tell you my theory later,” Penny replied, opening the newspaper. “Just now, I’m not in the mood.”

Both girls had been strangely depressed by their last few hours in the valley. Mrs. Lear had refused to come with them or to seek refuge in the hills. Gleeful at her victory over Mrs. Burmaster, she had seemed insensible to danger.

“Look at this headline,” Penny said, indicating the black type of the newspaper. “FLOOD MENACES RED VALLEY!”

Quickly the girls scanned the story. The account mentioned no facts new to them. It merely repeated that residents of the valley were alarmed by heavy up-state rains which had raised Lake Huntley to a dangerous height behind the dam.

“Wonder if Salt got any good pictures when he was here yesterday?” Penny mused. “Probably not. This is the sort of news story that doesn’t amount to much unless the big calamity falls.”

“You don’t think the dam actually will give way?” Louise asked anxiously.