"Who was the traitor?" asked Merle.

"There was no traitor."

"But some one must have betrayed us—you know that, Waters."

The young man looked at Merle and caught the flash that lit up his eyes.

"There is one person whom you seem to have forgotten," was all he said, and then looked away.

Merle fell into a deep study, during which he was silent.

"I see it now. She helped you," he suddenly cried. "There comes a day of vengeance. When I am out of your hands, gentlemen, I will show this sand viper that there is a hand that kills."

Old Broadbrim and Waters exchanged glances.

When he was out of their hands?

That day, if they were not outwitted, would never come; and when Merle would think of paying Stareyes back for helping Waters to his freedom, he would be powerless to strike.