The man in black put a hand to his eyes, and seemed to be thinking for a moment. Beneath his breath he muttered:
"Merriwell, Merriwell—I do not know the name."
Then, dropping his hand, he said:
"I will make you one more offer for the ring. I will give you fifty dollars for it. See—here is the money. Don't be foolish—take it! You will never receive another such offer."
He had pulled out some bills, from which he quickly selected a fifty-dollar bank-note, which he tendered to Frank.
The boy drew away.
"You are wasting your time in offering me money for the ring. I am in earnest in declining to sell it. Good-day, sir."
He turned and walked swiftly away.
The baffled man in black stood staring after the lad, his forehead lowering and his white teeth showing a bit through his dark mustache.
"Refuse to sell the ring!" he grated, madly. "All right! I am not defeated. I will have it within a week!"