The wary panther had already observed Frank’s gun, and seemed to know that his best policy, just now, was to try and keep some object between himself and the lad. For several minutes Frank used the paddle diligently, in the endeavor to gain such a position that he could get a good view of the panther. Twice he laid the paddle hastily down and snatched up his gun; but there must have been something about his movement that warned the beast of his danger; for on both occasions the big cat quickly changed his position; and when Frank was ready to fire, he could not do so. Then again the people got within his range as the floating tree took a sudden notion to turn slowly around. The current carried him faster than the unwieldly forest monarch, so that in order to keep within a certain distance of the trunk, Frank was presently forced to take to the paddle again. This was discouraging; but he expected that, sooner or later, he would get the opportunity he craved, and be able to shoot the dangerous customer. All at once he noticed that the tree was turning again. It was close to the houseboat now; indeed, a small gap of only a dozen feet or so seemed to separate the two floating objects; and Frank knew that there was danger of Bluff being tempted to use his shotgun, if he saw the opening. A sudden yell from all the other chums told Frank that something had happened; and what it was he instantly guessed when he saw how the three boys scattered. Two of them, Bluff and Will, seemed to be making for the open cabin door; but Jerry was in some sort of trap, for the crouching form of the panther, lashing its sides with its long tail, as though fully aroused, stood between him and safety. The animal seemed in the very act of leaping on Jerry, and seeing this, and that he could not get in a shot because of the many small branches that intervened, Frank shouted to his chum, warningly: “Look out, Jerry, he’s going to jump! Over the side into the water with you! He won’t follow you there! Hurry! make a spring for it, Jerry!” Apparently Jerry understood that this was his best plan. There was really no time for thinking, or choosing, with that furious beast ready to launch his long, slender body through the air. Jerry made the plunge. Frank knew there was nothing more to fear from that quarter. Jerry was a good swimmer, and could easily make the tree close by; in the branches of which he was quickly perched, dripping wet, but still full of pluck. The situation had changed in a wonderful manner. Jerry was in the tree, and the panther apparently owned the houseboat; for Bluff, old Luther, and Will had retreated to the cabin, the door of which they had shut and barred behind them, and from the windows they were shouting to Frank, trying to tell him where the panther was just then.