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was early morning before Elsie fell asleep. She slept late. Ina knocked at her door, and found it bolted and went away again. Later, when Elsie was dressed and went into the sitting-room, she found the whole party assembled there. Lord Horace was talking excitedly. "Eight thousand pounds worth of gold. By jove, it's a haul!" he was saying.

Eight thousand pounds! The words brought a thrill to Elsie. "What are you talking about?" she exclaimed. "What does it mean?"

"It means the most daring robbery that ever was committed. The gold escort robbed eight miles from Goondi at three o'clock this morning—six armed policemen to five bushrangers," said Hallett.

"And the devil, as they say, in the shape of a black horse," put in Lord Horace. "I should like to have the chance of a shot at Abatos. What fools they were not to aim at the horse. 'Pon my soul, it's the most extror'nary thing. Etheridge, the sergeant, swears the men are all in armour."

"Copying the Kellys," said Lady Horace.

"Copying the mediaeval duffers rather. It's a better sort of armour than the Kellys. That must be chain armour of the best manufacture, or they couldn't ride the distances in the time and do the things they do—unless Moonlight has the power of disappearing into the bowels of the earth whenever he sees fit. It beats me, and I can't help having a sneaking regard for such a plucky fellow. I hope Macpherson won't nab him." Lord Horace went on walking fiercely up and down the inn parlour.

Elsie sat silent. She, too, was intensely excited.

"The worst of it is that no one cares two straws about the poling to-day," said Hallett. "All Goondi is mad over the robbery. I am afraid it will affect the votes."