a moment.

Thus insisting on his previously expressed opinion that the sole purpose
of the thieves had been to secure the emerald necklace, further
disclaiming any belief that the alleged plot against the government had
figured in the matter at all, the editor smiled provokingly at the
officer.

Nestor looked from the lieutenant to the newspaper owner and smiled
quietly.

"I wish I knew," he said, "whether the papers we hear so much about really
reveal the details of an alleged plot against the government."

Mr. Shaw did not reply.

"If they do not," continued the boy, "do they connect some man, or some
group of men, with a plot which may be forming?"

The editor glanced approvingly at Ned, as if rather pleased with his
cleverness, but did not speak.

"I have known newspaper men," Ned went on, "to make mistakes in such
matters. However, I have no doubt that you have good reasons for the
course you are taking," he continued, "and therefore I have no fault to
find with you."

"You're a fine fellow, Mr. Nestor," the editor exclaimed. "Some day, when
you see the matter in the right light, I'll tell you all about it. I can't
do so now, for no end of trouble might come from it."

"Very well," replied Ned. "There is one more question I want to ask you.
Will you answer it?"

"If I can consistently do so, yes."

"If the men who searched this house to-night were after the necklace, and
that alone, why should they extend their operations to your offices in the
newspaper building?"

"Did they do that?" asked the editor calmly. "Then I shall have to go down
there and look things over. Will you kindly accompany me?"

But the search at the offices was barren of clues.

CHAPTER V.

AT THE GREAT GATUN DAM.

"Over there is the oldest country on this side of the world," said Peter
Fenton, pointing over the rail of the vessel and across the smooth waters
of the Caribbean sea. "We are now on the famous Spanish Main," he
continued, "where adventurers from the Windward Islands laid in wait for
the galleons of Spain. Just ahead, rising out of the sea, is the Isthmus
of Panama. Down there to the left is the continent of South America, where
there were cathedrals and palaces when Manhattan Island was still
populated by native Indians."

The minds of the Boy Scouts were filled with splendid dreams as they
followed with their eyes the directions indicated by the pointing hand. It
was all a fairyland to them. Peter ta