He jabbed his finger at the piece of paper. “Now for these clues. Listen! We saw Tall Stone when we were out on the lake, didn’t we? Very well. There must be SOME spot on the lake from where we can see not only Tall Stone, but also Tock Hill, Chimney and Steeple, whatever they are! There must be only one spot from which we can see all those four things at the same time - and that’s the spot to hunt in for the treasure!”.

There was an astonished silence after this. Julian drew a long breath and clapped Dick on the back.

“Of course! What idiots we were not to see it before. The Saucy Jane must be somewhere on - or in - the lake at the spot where all four clues are seen at the same time. We’ve only got to explore and find out!”

“Yes - but don’t forget that Maggie and Dirty Dick know what these clues mean too! They’ll be there first if they possibly can!” said Dick. “And what’s more if they get the goods we can’t do anything about it. We’re not the police! They’ll be off and away with their find and disappear completely.”

Everyone began to feel intensely excited. “I think we’d better set off early tomorrow morning,” said Julian, “As soon as it’s light. Otherwise Maggie and Dick will get in first. I wish to goodness we had an alarm clock.”

“We’ll go on the raft, and we’ll paddle about till we see Tall Stone again - then we’ll keep that in sight till we see Tock Hill, whatever that is,” said Dick. “And once we’ve spotted that we’ll keep both Tall Stone and Tock Hill in sight and paddle round to find out where we can see a steeple - and then a chimney. I should think that would be the one chimney left on Two Trees-house! Did you notice there is just one left, sticking up high?”

“Yes, I noticed,” said Anne. “What a clever way to hide anything, Dick. Nobody could possibly know what the clues meant unless they knew something of the secret. This is awfully exciting!”

They talked about it for some time and then Julian said they really must try and go to sleep or they would never wake up early enough in the morning.

They settled down in their beds of heather and bracken. Timmy lay on Julian’s blazer on the top step of the stairs leading down to the cellar room. He seemed to think it was quite a good idea to sleep there that night.

They were all tired and they fell asleep very quickly. Nothing disturbed them in the night. The fox came again and looked into the old house, but Timmy didn’t stir. He merely gave a small growl and the fox fled, his bushy tail spread behind him.

The morning came and daylight crept in at the burnt-out doorway and windows. Timmy stirred and went to the door. He looked towards the two tents. No one was about there. He went to the cellar steps and clattered down waking Dick and Julian at once.