It was Doctor Pliny Meredith who was speaking, and the place was chapel, after the usual morning exercises. The students had been about to go to their lectures when the venerable head of the school, entering most unexpectedly, asked them to remain a moment.

"Two nights ago," went on Doctor Meredith, "several horses belonging to our neighbor, Mr. Appleby, were poisoned!"

There was a gasp of surprise from several students, not only those who had read the account in the paper, as Jack and his chums had done, but from others, who wondered what was coming next. They had not long to wait.

"You young gentlemen will recollect," went on Doctor Meredith gravely, "that, some time ago, there was a fire at the farm of this same Mr. Appleby. I made no reference to something that happened directly afterward, for I scouted the idea that any of our boys could be involved. Yet, as some of you may know, the farmer intimated that the fire might have been set by some of the Elmwood Hall students."

There were several hisses, but Doctor Meredith raised a quick hand for silence.

"That will do," he said calmly. "That is undignified, and we must meet this in a dignified and fair spirit. As I said, I took no action at that time, for the evidence was absolutely nil. However, since the affair of the poisoning I am compelled to take some notice of an accusation that has been brought to my notice."

Again there was a gasp of surprise. Had the farmer dared to intimate that any Elmwood Hall lads had poisoned his horses?

"Since the last unfortunate affair," went on the head master, "I have received a visit from Mr. Appleby. He states to me that some kind of chemical poison was administered to all his horses after his men had fed them In the evening. One of the animals has since died, and the others are in a precarious state. If they recover it will be some time before they are fit for service. Now comes the part that interests us.

"Mr. Appleby states that he himself saw, and recognized, one of our students about his barrio shortly before it was discovered that the horses were poisoned."

"How does he know?" asked one of the Seniors—a privileged character, evidently, for he was not rebuked.