"It is the ring Merriwell wears when he is not in ranks—the twisted band, with a black stone set in it."

"And you want me to obtain that ring and give it to you?"

"Yes."

"For which I am to receive twenty-five dollars?"

"Yes. What is your answer?"

"This is my answer!"

Like a flash, Hodge struck out straight from the shoulder, and his fist caught Snell between the eyes.

CHAPTER XXXII.

SNELL'S HATRED.