Then the man moved out of the light that shone on him from a window and was swallowed up by the shadows.

“No use going farther,” she told herself. “If the sled belongs on the dry dock somewhere it would be the easiest thing in the world for two persons to lift it on their shoulders and carry it in from the ice. That would throw one completely off the trail.”

Turning, she retraced her steps along the beach to the trestle work on which the O Moo rested, then swinging about to the right she made her way to the yacht’s side.

Once on deck, she made certain that the other girls were aboard, then retraced her steps to the deck’s side, where she pulled down the canvas and tied it securely. For a moment she stood listening to the lash of ropes on the mast. The canvas covering bulged and sagged. Cool air fanned her cheeks.

“Going to be a bad storm,” she told herself. “Offshore wind, too. All the ice will go out to-night, and everything with it that isn’t tied down.” When all was tight on deck she slipped into the cabin.

Lucile, who ate very little dinner that night, retired early. Marian studied until nine-thirty. The clock pointed at eleven when Florence, with a sigh of regret, put down her psychology to prepare for sleep.

“Whew!” she breathed, “what a storm! Listen to the canvas boom! Like a schooner at sea! Hope it doesn’t tear the canvas away. Hope it doesn’t—”

She did not finish the sentence. The thought which had come to her was too absurd.

Once snugly tucked in her bed, she found her mind returning to the morning’s discovery. What did that new ice on the lagoon mean? Why had the hole been cut? Why was the ice blue? Did the sled and the man sitting on the ice the night before have anything to do with it? Did the man cut that hole? If so, why?

He might, she told herself, have had something to conceal, some valuables, stolen diamonds or gold. But how could he hope to recover it if he dropped it through a hole in the ice. The water beneath the ice was always murky and there was a strong current there. Anything dropped beneath that ice would be lost forever.