It
presented a broken line of low peaks. One slightly higher than the rest
marked the place where the pass to the Hollow entered. It was the hill
from which the Lost Trail party had first looked into Smugglers' Hollow,
and the view from the summit was more complete than from the point
Walter now occupied.

"I'd like to get up there," he thought, "but it's a little too much of
an undertaking on this crust. Besides, it would make me late for dinner.
Hello! Wonder what that is."

He had caught a sudden flash on the highest point of the peak. As he
watched he saw it again. His first thought had been that it was the sun
reflected from a bit of ice, but an instant's thought convinced him that
this couldn't be. It would of necessity be fixed and steady. The flashes
he had seen were made by something moving. With this knowledge came the
sudden conviction that the flashes were caused by the sun striking on
polished metal. Hastily feeling in his rucksack he drew out a pair of
opera-glasses which he always carried with him for use in studying birds
and animals. They were not very strong, but sufficiently so to bring the
peak perceptibly nearer. At first he could make out nothing unusual.
Then through the glasses he caught that flash again and focussed them as
nearly as possible on the spot from which it had come. For some minutes
he saw nothing suspicious. He was almost ready to give up and conclude
that it was in his imagination when he was positive that he saw
something move back of a stunted little spruce growing from a cleft in
the rocks at the point where he had located the flashes.

Instantly every instinct of the true scout was aroused. There was
something alive back of that little spruce. It might be an animal and
then again it might be a man. At once there flashed into his mind Alec's
account of the robbed traps. Could it be that one of the thieves was
reconnoitering the Hollow? His heart gave a queer jump at the thought.
Anyway it was clearly up to him to find out what he could.

Rapidly he reviewed the situation. It was clear that from his present
location he would gain no further information if his suspicions were
true. If an enemy was watching from behind that spruce he was
undoubtedly aware of Walter's presence, for he was standing in the open.
Beyond question he had been watched from the time he left the cabin. To
make a false move now would be to give warning. He regretted that he had
gazed so long at the suspe