“What does he know?” asked Burk in a whisper.

“He can’t know anything,” said Jackson. “He is putting up a bluff.”

Hegner found his voice and demanded that Merriwell be removed from the room. But it was too late, as he soon saw, for the young fellows who had heard his assertion were eager to hear more.

“I know you do not permit betting,” Frank cried; “but there has been betting on this match. Large sums of money have been staked on the result, but a most surprising fact is that the principal backer of Jackson—the one who has furnished most of the money bet on him is the trainer of Burk, Mr. Wallace Hegner!”

Hegner gave a howl and made a rush for Frank, but Bruce Browning was on hand and interposed his massive form, grasping the furious lad by the collar and holding him helpless.

“I will tell you how I know this,” Frank went on, speaking swiftly. “This Hegner has a grudge against me, and, with several of his friends, a gang of thugs, he attacked me the other night. In the fight I secured a handkerchief marked with his initials, and he came very near getting a knife into me. One of the gang was captured, a fellow known as Shiner Gregg. The police have been wanting to get hold of Gregg for some time, and when he fell into their hands they ‘put on the screws.’ As a result of the squeezing the fellow has confessed everything. He told how Mr. Hegner obtained his money to stake on this crooked match. Two weeks ago the jewelry store of Isaac Rosenfeld was entered and robbed. Gregg says Hegner planned the robbery and was one of the four concerned in it.”

“It’s a lie—a downright lie!” screamed Hegner, struggling to reach Frank. “Let me get at him! I will kill him!”

“It is the confession of Shiner Gregg,” said Frank. “He says this match was fixed—that Jackson would win, and Burk would receive good pay for flunking. Here is the proof that I have spoken the truth.”

He whistled, and into the room came six uniformed policemen. They quickly reached the ring, and Hegner, who had fought like a tiger to break from Browning, was collared, handcuffed and taken in charge.

By this time, in some mysterious manner, Burk and Jackson had disappeared. The spectators were furious. They talked of tar and feathers.