The boy ranchers rode leisurely along, for there was no special hurry in getting back. It might reasonably be supposed that the rustlers would not again make a raid within a few days at least. And Old Billee, Yellin' Kid, Snake Purdee and Four Eyes, to say nothing of Buck Tooth, were well able to look after matters in Happy Valley.
And thus proceeding at a foot pace, it was well after midnight when the boys started down the last slope that led into the valley proper. In daylight it would have been possible, from this part of the trail, to have observed the tents and the reservoir. But now all was shrouded in darkness.
No, not altogether darkness, for as the boys rode forward there suddenly glimmered in the gloom a light, high up in the air. At first Bud thought it was a star, but a moment later as it moved from side to side, and then up and down, he exclaimed:
"Look, fellows! A signal!"
"Signal!" repeated Dick.
"Yes. Over at our camp! See! There's a light on our watch tower."
"Maybe there's been another raid!" said Nort.
"Or going to be one!" spoke Bud, grimly.