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EXPOSURE OF THE MIDNIGHT VISITOR.
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"Indeed! Well, take care, that's all I have to say, and good-bye to you," and so speaking, Joseph Farvel staggered off, but at a rapid gait.

"He certainly has grit," whispered Leander. "He's a bad man to have for an enemy. What wicked eyes!"

"Jest so," said old Jacob. "He wouldn't hesitate to heave a man overboard, an' I know it. Menden must keep his weather eye open."

The party resumed their march up the mountain side, and at the first turn joined the others behind a large, projecting rock.

The Englishman listened with interest to all that they had to tell.

"I'd give a good bit to know if he has discovered anything," he observed. "Being in such a hurry to get to Caguas makes me a little suspicious. Perhaps he has located the treasure, and now wants to make arrangements for getting it away."

"He can't have been here so very long," put in Don. "We came through as fast as we were able."

"I told you he would want to put his hands on that gold as soon as he could. But come, there is no use in wasting time here."

Up and up they went, along a twisting and turning trail, now broad, and then again so