Carefully keeping himself out of sight, Chip had followed when Murky left the marsh. The latter walked directly to a thicket on a knoll, went in among the bushes and disappeared. Then for a long time Slider patiently waited. He wondered if the treasure he was seeking might not be hidden in the copse.

Toward evening Murky left the thicket and slipped away in the direction of the point of land occupied by the clubhouse. Improving this opportunity Slider cautiously visited the brush-covered knoll. There he found the tramp's den–a nest of leaves and pine needles and branches between two logs. Poles laid 11 across the logs and covered over with branches made a roof for the den. Merely as a place to sleep the nest looked snug enough, Chip said.

11

"Didn't see any blankets or dishes, did you?" Dave asked.

Indeed he had seen these very things, Slider answered, and had wondered how Murky came by them. He thought they probably had been taken from the clubhouse.

A complete quartette of voices answered this remark, setting Chip right as to the real ownership of the items mentioned. For not one of the four friends doubted now that it was Murky and no one else who had stolen their equipment and provisions. Considering the unscrupulous character of the fellow, they only wondered that he had not plundered the camp completely, leaving them nothing of value. It did not occur to them that probably the thief really wished to take more than he did, but could not conveniently carry a greater load.

It was a matter of congratulation among the 12 boys that they had not, by leaving the camp again unguarded, given Murky a chance to return. They were more certain than ever now that some one of them must be always in attendance about the shack, and it would have needed very little to persuade them, also, that despite Opal Lake's many attractive features their best course would be to pull up stakes and bid its shores good-bye.

12

Even after all were in bed this feature of their situation was discussed to some extent. Two main reasons for wishing to occupy the present camp, for yet a few days, were suggested. One was that in another week they must head the Thirty homeward and it was therefore hardly worth while to search out a more secure and less frequented locality for a camp site.

For reason number two there was the lively interest in the outcome of 

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