"It is Blake Stewart and Joe Duncan," said the former lad. "We have called—"

"I beg your pardon—In one moment I shall be with you—I will let you in!" exclaimed the Spaniard. The boys could hear him moving about in his apartment, they could hear the rattle of papers, and then the door was opened.

There was no one in the room except the young South American railroad man, but there was the odor of a strong cigar in the apartment, and Blake noticed this with surprise for, some time before, Mr. Alcando had said he did not smoke.

The inference was, then, that he had had a visitor, who was smoking when the boys knocked, but there was no sign of the caller then, except in the aroma of the cigar.

He might have gone into one of the other rooms that opened from the one into which the boys looked, for Mr. Alcando had a suite in the hotel. And, after all, it was none of the affair of Blake or Joe, if their new friend had had a caller.

"Only," said Blake to Joe afterward, "why was he in such a hurry to get rid of him, and afraid that we might meet him?"

"I don't know," Joe answered. "It doesn't worry me. You are too suspicious."

"I suppose I am."

Mr. Alcando welcomed the boys, but said nothing about the delay in opening his door, or about the visitor who must have slipped out hastily. The Spaniard was glad to see Blake and Joe, and glad to learn that they would soon start for Panama.

"I have much to do, though, in what little time is left," he said, rapidly arranging some papers on his table. As he did so, Blake caught sight of a small box, with some peculiar metal projections on it, sticking out from amid a pile of papers.