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we must follow."

      "Sure."

      "How——"

      "Here—in the stable. I have ordered a horse. We'll have two. They'll not slip us easily."

      "How did they travel?"

      "Horseback."

      "How much of a start?"

      "Twenty minutes."

      Together the boys ran back into the stable, and another horse was ordered saddled.

      "Look here," cried Frank, displaying his money. "We wish to overtake some people who have a start on us. Give us the best animal in the stable."

      The proprietor of the stable was on hand, and he looked the boys over doubtfully.

      "How do I know I'll ever see my critters again?" he asked.

      "We'll make a deposit," declared Frank. "We'll stick up a hundred dollars apiece on 'em. If they are worth more you can afford to take chances. If we're horse thieves you won't have much trouble in tracing us. Besides that, horse thieves do not work in this way. If they did they'd get the worst end most of the time, for they'd have to chance it on the horses being worth a hundred each."

      The proprietor was rather bewildered. He believed something was wrong, but still he did not wish to refuse to let the boys have the horses.

      The money was counted out and thrust into his hands.

      "Hustle!" cried Merriwell. "We can't afford to lose a moment."

      The stable-keeper roared out an order to his assistants. The horse that Bart had ordered was quickly brought out, ready for mounting, and then he was followed by another, onto which a saddle was flung. Frank looked the animals over with a critical eye.

      "They'll do," he said, approvingly.

      In a few seconds the lads were mounted and dashing away from the stable. The proprietor stood looking after them, doubt written on his face.

      "Gee whiz!" he muttered. "I never thought of that! Bet I've made a derned fool of myself! Well, I reckon I'll git the critters back."

      "What is it you did not think of?" he was asked.

      "Why, it's remarkable kids like them should be so flush with money. And they looked scared. They're runnin' away. I reckon they've been stealin' an' they wuz hustlin' to get away before they wus arrested."

      The boys disappeared down the street.

      Frank allowed Bart to take the lead.

      "I suppose you know the shortest cut to the lake road?" he asked.

      "I do," said Bart. "You follow close, that's all."

      As they rode, Frank related his adventure in the bank.

      Bart whistled in astonishment.

      "Bogus money?" he cried. "And you received it of the girl? That is strange."

      "It looks bad," said Frank.

      "I don't understand it. How do you suppose she happened to have it? It's not at all probable she knew what it was."

      "I am not so sure of that."

      The dark-eyed boy gave his companion a reproving look.

      "She is as innocent as a flower! I will not believe she could do such a thing! But she is in trouble."

      They were regarded with some surprise as they dashed along the streets. The citizens wondered why two boys were riding at such speed. A sleepy policeman shouted at them, but they gave him no heed.

      Soon they came to the outskirts of the city. Before them lay the lake road.

      "This is the way they came?" questioned Frank.

      "Sure," nodded Bart. "They are somewhere ahead."

      "What makes you think they are skipping the city? It strikes me they may be simply out for a canter. Perhaps they are going to take a look at Tahoe up there among the mountains."

      "They did not buy horses for a canter of a few hours."

      "They bought horses?"

      "Yes."

      "Then it is pretty certain they have no notion of coming back to Carson. You have a level head, my boy. Forward!"

      The road became rugged and steep. They were looking for a mounted man and girl in advance, and they constantly urged forward their sweating horses.

      "I do not see anything of them."

      "The road crooks away up yonder, so they would be hidden. They have quite a start, and they are in a hurry."

      A cloud of dust rose behind the galloping horses, drifting away to the left. The road was rough, but the boys did not mind that.

      "Tahoe must be on the top of a mountain," grumbled Bart, after a time.

      "It is six thousand, two hundred and eight feet above the level of the sea," said Frank. "That is elevated somewhat."

      "I should say so. It must be the highest body of water in this country, if not in the world."

      "It is higher than the peaks of many lofty mountains."

      "And this so-called 'lake road' is hardly better than an ordinary trail. We are in for a hard pull of it."

      "But the ones we are pursuing are in for just as hard a pull."

      "That's right, and one of them is a girl."

      The mountains loomed formidably before them. The bleak heights seemed to block their way. But the road wound onward and upward, and they followed it.

      "What was that?" questioned Frank.

      "What? I did not hear anything."

      "It sounded like a cry. There it is again."

      "I heard it that time. It did not seem to be ahead of us, and so it—— Great Scott! Look back!"

      Frank looked back down the road. Far away, several horsemen were riding toward them. They were urging forward their animals, and the sunlight glinted on polished weapons.

      "We are pursued, partner!" said Frank, grimly. "We are in for a hot chase."

      CHAPTER XL.

       ELUDED.

       Table of Contents

      "Who are our pursuers?" asked Bart, angrily. "What do they want? They are shouting and waving their hands."

      "They are shouting for us to stop. They want me."

      "For what?"

      "Have you forgotten, as soon as this, what I told you about the queer money I tried to get changed at the bank?"

      "Think that is why they are after you, eh?"

      "Without a doubt?"

      "Then they must be officers."

      "It is certain that at least one of them is an officer. The others he may have called to his aid hastily."

      "It will not do for them to overtake us."

      "Surely not. I would be arrested and taken back into Carson. Even if I were sure of proving my innocence, the man and girl would get away."

      "And you cannot be sure you could prove your innocence. The working of the law is sometimes strange and erratic. That money has placed you in great danger, Frank."

      "You are right. I wish I had kept my money in my pocket, and had not been so ready to break fifty-dollar bills for a pretty girl."

      Frank said this laughingly, but Bart's dark face wore a very serious look. He was not at all inclined to regard serious matters in a humorous light, while Frank had faced deadly dangers

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