Despite his passion for hunting, Billy has to discontinue his nightly pursuits when an unexpected winter storm hits the area. For nearly a week, the ice, sleet, and snow prevent him from hunting with his hounds. Once the storm passes, his parents give him permission to resume his hunting if he promises to be especially careful. He does as they wish, covering his ax blades with leather sheaths and promising to beware of the sheet of ice that lies beneath the three inches of snow.

After being caged for several days, Billy’s hounds are eager to hunt and begin the chase as soon as they enter the woods near the river bottom. Billy also feels liberated, and he yells excitedly to his hounds as they chase the raccoon over the snow-covered ground. The snowy ground makes it difficult for the raccoon to conceal itself or its tracks. Consequently, Billy feels certain that his hounds will trap the raccoon quickly. He listens to the yelps of his dogs as they progress through the chase. He eagerly cheers his hounds onward. He is overjoyed when the chase takes the raccoon near his home, and he hears his family on the porch, cheering his hounds as well. After a few minutes, however, he no longer hears his hounds howl. He listens attentively for the sounds that will indicate their location, but he hears nothing.

With his lantern in his hand, Billy begins searching for his dogs. When he hears a wail from Old Dan, he rushes to the location. He sees his male hound, but Little Ann is nowhere to be seen. Still, Old Dan is wailing rather than howling, so Billy panics and begins calling out to Little Ann. When she whimpers a response, he sees her. She is in the icy water, clinging to the embankment. The river water is rushing over her body and she is in a precarious, life-threatening position.

As Billy, horrified, contemplates a rescue, he realizes what the crafty raccoon has done: Desperate to escape, it ran to the river and over the frozen surface ice. Then, as it neared the other bank, it leaped over to the other side. Old Dan raced behind the raccoon, ascending the bank only seconds behind it. But when Little Ann attempted the same feat, she fell short and slid backwards into the icy waters of the river.

Billy attempts to walk over the ice to save his dog, but the surface ice begins to crack from his weight. He considers running home to get a rope or to ask his father for help, but he dismisses the idea quickly because Little Ann would drown before he returned. Instead, he runs along the riverbank until he finds tall cane stalks. Using his ax, he cuts a large stalk and strips away part of the bark. Then he places the long stalk through the handle of his lantern and slides it toward Little Ann so he can better ascertain her predicament. He sees that she is literally clinging for her life.

Frantic to save Little Ann, Billy again attempts to cross the icy surface. The ice breaks and he grabs the embankment so the icy waters do not carry him downstream. Billy grieves because he thinks his dog will surely die. He cannot reach her. He cannot swim to her. He cries miserably, and then he prays again. This time he prays for the ability to save his dog. While he is praying, he hears a clanking sound. Believing it to be a boat, he screams for help. He hears no response....