Frederic Caruthers' warning was received seriously.

Ted and the boys consulted about the defense of the house, for the news of the Gray Wolves was not much of a surprise to Ted, who had all along felt that they were sure to be attacked by Mowbray and his men when they found that Major Caruthers and the broncho boys had emptied the Mowbray house of all its valuables.

The fact that there was an organized body of murderers and thieves under Mowbray called the Gray Wolves was not inappropriate.

But if the Gray Wolves came to the attack, the boys were prepared to receive and deal with them as they would with any band of marauding animals.

"We'll establish a guard at once," said Ted, "and it will stand as organized until this thing is settled."

"It will have to be kept up night and day," said Ben Tremont. "If these chaps are as clever as I think they will probably seek to do us harm by day as well as night."

"Thar's sense in thet thar," said Bud. "Better make it two watches."

"All right," said Ted. "Ben will have charge of the day watch, and take six of the boys, whom he will detail for duty as he thinks best."

"How do you want to arrange the hours?" asked Ben.

"Suit yourself about that, but I would suggest that the day be divided from six o'clock to six o'clock, day and night."

"Suits me," said Ben. "That will give my six boys a stunt of two hours each, which will make it easy for every one, and insure a constant and careful watch."

"Bud, you will be captain of the night watch," said Ted. "How do you want to arrange it?"

"I would patrol ther house outside," said Bud. "And my fellers would work in pairs. I should think Ben's men could do their best work from the cupola on top o' ther house, usin' ther major's spyglass ter keep tabs on ther horizon in every direction. At night, we can only watch close to the house outside."

"That sounds all right. Get your first guard established at once. We don't know how close they may be to us right now."

Kit was sent into the cupola with the spyglass and a Winchester with its magazine full, to take the first watch.

It was not necessary to give Kit any instructions, for he was a most intelligent guard.

He had not been on watch more than an hour when he whistled to Ted, who was crossing the yard on his way to the corral.

"What is it?" said Ted, stopping and looking up.

"I wish you'd come up here a moment. I see something which puzzles me mightily. It's kind of uncanny," replied Kit.

Ted laughed at Kit's fancy, but went into the house and climbed into the cupola.

"What is it?" he asked, taking his place beside Kit.

"Take the glass and look along my arm to where my finger is pointing, and tell me what you see."

Ted did so, and, after looking for several moments, took down the glass and said:

"It looks to me like a wounded wolf. I never saw a wolf make such strange motions."

"Quick! Look again. What do you see?"

"By Jove!" said Ted slowly. "If I hadn't seen it, I wouldn't have believed it. That is a wolf all right, but it seems to be waving something white at us. It doesn't seem to be able to move along. I wonder what it is."

"Some trick, probably. Remember what Frederic Caruthers said about the Gray Wolves' visit, and the cleverness of the fellows?"

"Yes. What do you think of it?"

"I think it is a lure to excite our curiosity, and get us to go out there and fall into a trap."

"That sounds reasonable."

"You will notice that the wolf is just over the top of a rise on the prairie. The question is, What is beyond the rise, in the hollow?"

"I'm going out to find out."

"I wouldn't if I were you, Ted."

"Why?"

"I'm afraid it's a trap, and that you'll fall into it."

"We'll never find out what it is if we don't go out there."

"That's a cinch, and that's just what they want you to do."

"Well, I'm going."

Kit knew that when Ted said anything in the tone of voice he had just used he meant it, and that it was useless to argue with him.

"All right, go as far as you like," he said. "I'll keep my eye on you, and if anything happens I'll sound the warning."

Stella and the other members of the Moon Valley outfit were resting against the time when they would be called to duty, and only Kit was there to see Ted catch Sultan out of the corral, saddle him, and ride away.

Ted rode slowly across the prairie to where he had seen the wolf.

But the wolf had disappeared from view just as Ted started from the corral, and Kit could see it no more. He took this for a bad omen. Evidently, the wolf had seen that he had lured a rider from the ranch house, and, having accomplished its purpose, it was no longer necessary to expose itself to attack.

As Ted drew nearer to the spot where he had seen the wolf he went more slowly, and carefully examined his revolvers, and swung his knife sheath loose, so that he could get at that weapon quickly, if it became necessary.

Although he looked carefully to the front, he could not see the wolf.

Kit saw that Ted had missed the place where the wolf had been seen, and that he was too far to the right. He observed, also, that Ted was going cautiously, and that he was preparing for an attack, and he was sure that Ted would be able to take care of himself against fair odds.

Now Ted went forward again and soon gained the top of the rise.

He went very cautiously, peering over the edge.

Suddenly he sprang back and whipped out his revolver, and slowly let himself out of his saddle.

"Ted's found him," muttered Kit in the cupola to Stella, who had climbed up to his side to learn how the watch was going.

"Let me have the glass, Kit," she said.

Kit handed it to her, and she trained it on the figure of Ted, who was creeping along the top of the hill.

"Oh, Kit, he sees the wolf," cried Stella, interpreting for Kit's benefit the little drama being enacted for their benefit on the far-away hilltop.

"What's he doing now?" asked Kit, who was growing impatient from seeing nothing except the changing expressions on Stella's face.

"Nothing!"

"Pshaw!"

"Ha!" Stella gave forth an excited little exclamation.

"What is it? Give me the glass."

"Go away!" Stella pushed off Kit's hand that was reaching out for the glass.

"Now he's gone. He's out of sight. No; I can see his head. It's going up and down."

A long pause.

"Well, what's doing?" said Kit eagerly, and somewhat impatiently.

"Can't see a thing."

"Oh, rats! Let me look."

"Keep quiet. I see his head now."

"Is that all? What's he doing?"

"Here he comes. I can see his shoulders all bent over."

"Is he hurt?"

"Of course not, silly."

"Then why is he bent over?"

"I believe he's carrying something. Yes. He has something in his arms. Goodness, gracious me!"

"What is it?"

"Why, he's carrying a wolf in his arms. But what a funny wolf."

"I insist upon having the glass. I'm the fellow on watch."

"Kit, you're very rude. Don't bother me. Don't you see through me? Am I not telling you everything that occurs?"

"Oh, what's the use?" Kit shrugged his shoulders in a disgusted way, as if he were expressing the futility of arguing with a woman, and wishing that she were a boy, so that he could punch her head and take back his glass again.

"What's the matter with the wolf?" Kit asked at last, in a sulky tone.

"If you get mad at me, Kit, I won't talk to you." Stella took down the glass for a moment and looked at Kit severely.

"All right, fire away, but tell me what's going on, for Heaven's sake. Don't break off in the middle that way."

"It's an awful big wolf, and its hide don't fit it. Its legs stick out of the skin, and I can see one of its feet. Gracious, it has a queer sort of a boot on it, and this wolf has human hands."

"Stella, quit your fooling. What is going on out there? This is serious. It's no time for nonsense."

"I'm not fooling. I'm quite in earnest. Now Ted's lifting the queer thing onto the saddle, and holding it there."

"Has he killed the wolf, or man, or wolf man, or woman, or whatever crazy thing it is? I knew there was something queer about it," exclaimed Kit.

"I'm sure I don't know whether he killed it or not. I couldn't see through the hill."

"What's he doing now?"

"He has started toward the house, leading the pony and holding the thing in the saddle. Here! Take your old glass! I'm going to ride out and see what it's all about."

She thrust the spyglass into Kit's hand, and, with a merry laugh at his look of disgust, disappeared through the scuttle, and a few minutes later he saw her riding like mad across the prairie toward Ted.

In the course of a half hour they were both back at the house, and Kit's curiosity led him to desert his post to find out what Ted's strange burden was.

Ted lifted something from his saddle and carried it into the house very tenderly.

Stella was very silent, and followed Ted closely, helping as well as she could to uphold his burden.

"What is it?" asked Kit.

"A girl," answered Stella curtly.

"A girl?"

Stella paid no attention to him, but rushed ahead of Ted, and led the way to her own room.

"This way, Ted," she cried. "She must be brought in here."

Ted did as he was told, and laid the strange thing he carried on Stella's bed, and stepped back to look at it.

It was the skin of an enormous gray wolf, which all but enveloped a human form. Between the opening in the head, where once had been the cruel jaws of the wolf, peeped a pretty, brown face. But the eyes were closed. And a little, brown hand swung inertly from the place where a wolf's paw once had been; while below was a dainty foot, incased in a Japanese stocking divided, like a mitten, for the big toe.

"Who, or what is it?" asked Kit, looking curiously down at the strange object.

"I think it must be Itsu San, the little Japanese girl who was Helen Mowbray's maid," answered Ted.

"Great Scott, how did she happen in this fix?"

"I don't know. We'll have to wait until she recovers."

"Is she hurt?"

"I don't think so. I think she is merely exhausted by fatigue, hunger, and fear."

Meanwhile, Stella was busy cutting away the wolfskin in which the Japanese girl was concealed and entangled.

The commotion had brought the boys into the room, and they gazed with wonder at the sight.

"Now, you chaps clear out," said Stella, pushing them gently toward the door. "Do you want to scare the poor thing into fits when she comes to? The sight of all you fellows will frighten her worse than ever."

The boys hastened to leave the room, and Stella had just closed the door upon them when Itsu San, for it was she, opened her eyes and gave a little scream of joy when she saw that she was safe, and in the presence of a very pretty and kind-looking American girl of her own age.

"Don't be frightened," said Stella.

"I not no fright now," said Itsu San, with a charming smile, that was like that of a happy baby.

"How in the world did you come to be in this horrid thing?" asked Stella, kicking the wolfskin, which she had thrown to the floor.

"I come to give warn," answered the Japanese girl.

"About what?"

"The Gray Wolves."

"Go ahead and tell me."

"The Gray Wolves catch my blother. I hide, and hear them talk and say they kill all evelybody here."

"When?"

"Mebbe so to-night. Mebbe so to-mollow."

"Who said that?"

"The devil man."

"Who is he?"

"Mistah Mowbray."

"Mowbray and his men found you and your brother in the place where you were hiding, and took your brother after you had succeeded in hiding. Is that it?"

Itsu San nodded for reply.

"You heard them talking among themselves, and Mowbray planned to attack this house, and kill us all?"

Again the Japanese girl nodded.

"When they had gone you found this wolfskin, and, thinking that it was the only way in which to escape, you crawled into it, and crept all the way here, playing wolf, to warn us?"

"Yes. I crawled to their camp, and heard them talk. I tried to get close to my blother, to cut him loose, but they saw me and drove me away, and shot at me."

"Mercy! But I don't see why they didn't see through your disguise. It wouldn't fool any one."

"It was the half dark."

"Oh, yes. But why didn't you get out of the skin when you came within sight of the house?"

"I not have the strength. I climb the hill and see the house. Then I fall down, and not can rise again. All what I can do is to wave my handkerchief. Then I faint."

"You are a brave and lovely girl, and I already love you like a sister," said Stella warmly. "You shall stay here, and need not be afraid. We will be ready for the Gray Wolves, and they will not kill either us or you. Your warning comes just in time."