Ignoring the question Mr. Button said, "Your friend has gone."

"Who? The man we brought with us?"

"Yes. I had Tom take him over to Alexandria Bay in the Jessie."

"And where is he going?" inquired Fred astounded by the statement of his grandfather.

"He will go to Syracuse. Whether he will stay there or not I do not know."

"But what did he say?" asked Fred somewhat impatiently. "Do you think he stole the bond?"

"There are a good many things that are somewhat strange connected with this affair. I am quite inclined to think your bond is good. About this man, there are some matters that must be cleared up before I can make any explanations to you." Rising as he spoke Mr. Button led the way back to the piazza and Fred was convinced that it was useless for him to talk any more, for the present at least, about the man or the bond.

The following morning the four Go Ahead boys set forth in the Black Growler on a voyage on the river. Fred was eager to show the wonders of the great St. Lawrence to his friends and equally desirous of trying out the motor-boat.

In the time which was to intervene before the race was held he was eager to make himself familiar with every feature of the marvelous little craft. All things were novel and interesting to his companions, both in the scenery through which they were passing and the detailed parts of the Black Growler.

"My grandfather says," exclaimed Fred, "that if we want to we can send over to Henderson Harbor and perhaps can get Sam Hodge to come here. He will be a good man to have on board when we are in that race. I never saw any one that knew more about machinery than he did."