"And of course that was why she was supposed to guard the fortunes of the Courtenays. No doubt they always kept their valuables in this hiding-place, and only the head of the family would know the way to it."

"So old sayings do generally mean something, and aren't just nonsense."

"Let us go and tell at once. Everybody'll be wondering where we are. They must be doing prep. now, and Miss Russell will be sitting with the first class."

The headmistress's tranquil demeanour was not usually easily ruffled, but she sprang up in excitement as her two missing pupils burst into the library proclaiming the glorious news.

"Lindsay and Cicely! Where have you been? I was growing most uneasy at your absence. You say you have actually found Sir Giles's treasure? It is hardly to be credited. Girls, girls, try to calm yourselves and give me an intelligible account!" as first one and then the other took up the tale in disjointed sentences.

"We played hide-and-seek—and fell through the bottom of the settle—there were great bags of gold—and boxes of silver things and bank notes—won't she be rich? And he'd written it in an enigma—we thought we were going to starve there like Ginevra—and we climbed down through the portrait—oh, may we go and tell Monica about it now?"

"This is indeed a most extraordinary discovery," said Miss Russell, when at length she had drawn from them a more lucid statement of affairs. "Monica must certainly know, but no one is to tell her except myself. I will go down presently to the cottage and see her, and warn her to break the news very gently to her mother. If Mrs. Courtenay were to hear of it suddenly, the shock might be exceedingly dangerous, in her weak state of health."

The news that something of great importance had happened seemed to spread like wildfire through the school. Both teachers and pupils, abandoning their books, came crowding into the library to hear particulars. Even the servants hurried to the spot.

"Oh, bless you, bless you!" cried Mrs. Wilson, who had pushed her way among the girls to the central source of information. "This is indeed a day of rejoicing—a day to remember and give thanks for to the end of one's life!"

Lindsay and Cicely stared at her in amazement. Was it actually "The Griffin" who was speaking? And were those tears that were trickling down her hard cheeks? What did it mean? Was she acting a part? Or had they after all misjudged her? There was no time then for either surmises or explanations. They were the heroines of the hour, and had to repeat their story afresh to those who had not yet heard it at first hand.