How does the hunt end?

In Chapter 18, the men helping to search for the dogs see that they have remained alive through the night by running around and around the tree, continually, which they are still doing. The men build a fire and melt the ice from the dogs' coats, still puzzling over why the dogs remained with the treed coon instead of returning to camp or to Billy's fireside. Mr. Kyle explains that some dogs are capable of more than loyalty; they are capable of love. When the dogs are thawed out, Billy realizes that they will be fine. A man shoots birdshot at the coon to make him jump and, together, Ann and Dan kill him.

Back at camp, all the tents have been taken down but Grandpa's. Inside Grandpa is bandaged up but in need of further medical attention in town. He tearfully greets the two little dogs. The man who collected the jackpot for the winner presents $300 to Billy.