"I reckon it's that way all over," Billee made answer. "Well, boys," he resumed, "might as well ride back. You gittin' all the water you can use from Pocut River, ain't you, Ike?" he asked, turning in his saddle.

"Better ask th' boss about that," was the sullen retort. "I reckon he'll have suthin' t' say, soon, that you Diamond X folks won't like!"

"Is that a threat?" asked Bud quickly.

"Easy, son, easy!" cautioned Old Billee.

"You can make anythin' yo' like of it!" sneered the Double Z foreman.

And then the boy ranchers and Old Billee rode off.

"Well, we didn't find out much," said Nort, when they were on the homeward trail.

"No, but we let 'em know we found that branding iron, and that we knew where it belonged," spoke Bud. "That's something!"

They were rather late getting back to camp, for Dick's pony went lame, and the others accommodated their pace to his. It was dusk when the little party hit the borders of Diamond X Second, and saw the grazing cattle.

Bud saw something else, for as he rode ahead he called: