overweening vanity and self-confidence of their years. The East, to them, was paved with gold. Troubles looked like the necessary things to be combatted fearlessly to reach the success that must await them beyond; life, indeed, was one rosy, golden, glorious dream. The stern realities were to come: when their fortitude would be tried, when all that was manly, or otherwise, in them would be brought out, and they would show of what manner of stuff they were made.

The first two or three weeks of the journey passed uneventfully, the wind was in the right direction, and they glided smoothly along the waters of the great and glorious Danube.

Just as the sun was sinking one night towards the end of the third week, they found that the river passed through a dense forest, and decided by way of a change, instead of passing the night in the boat as they had done up till then, to moor her to the bank, and, under a canopy of thick bush, sleep on the bosom of mother earth.

Helmar at once steered for the bank, and the party landed. Drawing the boat up out of the water, they pitched their camp and prepared their evening meal.

When they were seated round their fire, the conversation turned upon their plans for the future.

"We had better decide now," said Helmar, "as to where we shall make for when we reach Constantinople. Let's hear what you have to say, Charlie."

"Whatever you propose will do for me. Mark, here, prefers Japan, but I am not altogether sure that it will be best."

"Oh, yes, it will be," broke in Mark, in decisive tones. "There's a future in Japan second to none. The chance for enterprise is great there, and, besides, if a man has anything in him he can worm himself into Government circles, and that means a fortune."

"Personally I'm in favour of Egypt," said Helmar, quietly. "Japan no doubt is promising enough, but if you only stop to think for a moment, Mark, you will realize that your capital is not sufficient to carry you there." And he eyed the other keenly.

"Of course my capital isn't large, but I understood we were working on a common purse, and you, Helmar, have ample."

"True enough," said Helmar, looking up the stream towards the rosy sunset, "but I am not going to waste it all on travelling. We shall need something to keep us until we get work."

"Oh, very well," said Mark, shrugging his shoulders in a discontented fashion. "Then I suppose as you want us to go to Egypt, that will have to be our destination; but, I can tell you, I didn't expect this sort of thing."

"Perhaps not," replied Helmar, quietly. "But I'm not a fool, and intend going wherever our means will carry us best. Eh, Charlie?" turning to Osterberg.

"You're right, it's no use wasting our capital. Hark! what's that?"

The three men listened intently. There was the sound of voices not far from where they sat.

"By Jove, we must be near a road," said Helmar, as the sound grew louder. "I'm going to reconnoitre."

"No, no, let me go!" said the other two in a breath.

Without waiting for reply they darted off into the bush, and Helmar was left to himself. For some moments he gave himself up to surmising the origin of the sounds he now heard distinctly. As they came nearer he could distinguish the language in which the voices spoke, and with an exclamation of anxiety, he recognized it.

"Gipsies, by Jove! There'll be trouble if they come across those fellows," he muttered. "I must go and find them."

There was reason for his anxiety. In these parts the gipsies were practically brigands, and would rob and even murder without the least compunction. In recognizing the language Helmar had realized a danger for which he had in no wise prepared. He wondered if they had discovered the camping-ground. Suddenly he thought of the fire, and feared the smoke from it might have betrayed their whereabouts. However, in case it had not, he was determined to guard against such a possibility, and immediately poured some water on it.

Looking round, his eye chanced on a heavy branch of a tree, which had been brought in for fire-wood; breaking a substantial limb off it, he quickly trimmed it into a heavy club.

Giving one last look round he slipped off his coat, and, armed with his formidable weapon, darted into the bush, following in the footsteps of his companions as best he could.