"Well, what d'ye think of that!" burst out Red. "And I guess we're a lot of chumps, fellows, not to have seen through it before."

"Would a woman be among anarchists, Elmer?" demanded Toby.

"Oh, I don't know," came the reply. "Perhaps so, though not as a usual thing. But understand that I haven't said I agreed with you altogether, when you gave such a hard name to these people."

"Then you don't count 'em as Black Hand kidnapers, who expect to raise a bully good sum by holding our pard, Nat Scott, for ransom?" demanded Red.

"I've seen nothing to tell me that's the way matters stand," Elmer commenced saying, "and several things seem to say just the opposite. The presence of the woman, and her having such an article as this precious string of beads don't seem to go along with such a thing as a band of rascals."

"Yes, yes, go on, Elmer," several called out.

"We haven't found the slightest sign of a bomb factory here, or even a book teaching how to bring about a revolution. These things make me believe that these three men and a woman may not be such terribly hard cases after all."

"But you believe they've got our chum, and are holding him a prisoner, don't you, Elmer?" asked Matty.

"I do believe it," Elmer went on. "In fact I know it, because if you look back of that empty box yonder, which they use for a table, you'll find a hat--Nat's hat, if I'm not mistaken."

A rush was made for the box in question, and there followed a confusion of tongues, as half a dozen fellows tried to talk at once.

"You found a hat, didn't you?" demanded Elmer.

"We sure did, and here she is," cried Red, holding up the article in question.

"It looks like a scout's regulation hat?" Elmer remarked.

"Which n.o.body could deny," sang Lil Artha.

"And as every scout present has his own hat on his head right now, it stands to reason this couldn't belong to any of us, eh, fellows?"

"To clinch the matter, Elmer," observed Matty, "if you look inside the hat you'll find two little silver letters fastened there. The N. S.

stands for Nathaniel Scott."

"Well, that point seems proved. Nat was here. Perhaps in wandering about he struck this place. But the indications are he was captured first, and brought to this shack."

"But," said hasty Red, interrupting Elmer, "if you admit that these Italians have made our pard a prisoner, how can you say they are not bad men, thieves wanted by the officers of the law, even if not anarchists?"

"Some things I can only guess at, without being able to explain my conviction. But, honestly, fellows, I hardly think these people are as bad as you make out. I know blackmail is practiced over in Italy a lot.

And that one of the favorite ways to get money is to kidnap the son or daughter of a rich man, and demand a heavy ransom. But in this case they would hardly pick Nat Scott for a pigeon to be plucked. His father is only a schoolmaster. There are others here who would seem to be more attractive bait."

"Hear, hear!" cried Lil Artha, casting a meaning look in the direction of Larry Billings, whose father, being a banker, was reckoned the richest man in all Hickory Ridge.

"But ain't we wasting a heap of time here?" asked Red, impatient as always to be doing something.

"That's just what I was saying to Ted here," declared Larry, whom the meaning glance of Lil Artha had plainly rendered uneasy.

"You may think so," remarked Elmer, "but this is a case of the more haste the less speed. I reckon it's wise for us to make sure about the character of these Italians before we go to chasing after them. They're an excitable lot, you know, and we might bring on trouble that could just as well be avoided if we went slow."

Matty looked at his leader sharply.

"Say, see here, Elmer," he remarked, "you know, or anyhow you've got a pretty good hunch, who these people are?"

"Why, yes, Italians," laughed the other.

"Now, that ain't what I mean," Matty went on. "No dodging, but own up."

"You're wrong there," Elmer said. "I don't know, and my suspicions so far are founded on such slight evidence that I don't care to commit myself before the whole of you--yet."

"But from what you said just now," Matty continued, "you don't seem to agree with the rest of us when we call these Italians anarchists."

"Because there hasn't been a solitary thing to prove it. We pathfinders must always discover some trace of the trail, or else we'd go astray.

And I've owned up that I'm more than half inclined to believe these people are not the bad lot you'd make out."

"But they've got our chum a prisoner," said Red.

"Looks that way," a.s.sented Elmer, cheerfully.

"And honest men would never do a thing like that," declared Red.

"Oh, wouldn't they?" replied the other. "Perhaps now the shoe might be on the other foot."

"Eh?"

"And perhaps these honest people might suspect that you three fellows in uniform represented the great United States army about to surround them, and make them prisoners because they had been occupying private property here at Munsey's mill."

The scouts looked at one another, astonished. Here was a theory then which had never appealed to them before.

"Well, I declare!" gasped Red.

"Don't it just beat the Dutch how he gets on to all these things?" said Lil Artha.

"But, Elmer, why take poor Nat a prisoner, bottle him up so he couldn't call for help, fetch him to this old shack, and finally carry him off when they light out!"

It was Matty who asked this question. Elmer smiled and shook his head.

"I can figure out a lot of things," he said, "just as I can read Indian writing; but please don't expect me to tell you what people _think_. I only know that these Italians were surely frightened at the sudden appearance of three fellows in khaki, and that they probably took them for soldiers. They must have had some idea in view when they captured Nat, and hustled him to this shack. Perhaps they only meant to hide here until the rest of us had gone."

"And they got more scared when you sounded that bugle, I reckon,"

remarked Lil Artha.

"Yes, and then the coming of another bunch of six scouts may have made them believe the worst was about to happen," Elmer continued.

"Say, I thought I heard low voices when I was just going to peep in that window there, and the bugle called me back to duty," Landy spoke up.

"Yes," Elmer added; "and it may be the coming of Landy just finished their panic. After he went away they must have vamosed the ranch in a hurry."

"Well, all this is mighty interesting, sure," declared Red, with an appreciative nod, "but it ain't bringing us any closer to finding our chum Nat."

"Yes, what's the programme, Elmer?" asked Chatz. "Do we take up the trail right away, and try to follow these heah rascals to their new camp? You can count on all of us, suh, to do the troop credit."