Frank watched for the man in black, who had said he would call on Professor Gunn again; but the mysterious man did not put in an appearance, and Merriwell waited his time.

Wat Snell was forced to endure no end of ridicule from his companions, as it was the rule at Fardale that a student who had received a blow or an insult must challenge the one who gave it. If he did not do so, he was regarded as a coward, and his life in school from that time was certain to be far from pleasant.

In his heart Snell was an arrant coward, and he knew that Hodge was really longing for a challenge. Wat felt sure that he would receive a severe drubbing at the hands of the dark-haired boy whom he had angered, and the thoughts of such punishment filled his soul with horror.

"I can't fight him—it's no use, I can't!" he told himself over and over. "He is a turn-coat, anyway! He did not pretend to be so conscientious till after he got thick with Merriwell. Oh, Merriwell is really the one who is at the bottom of all the trouble I have had in this school, and I hate him worse than I do Hodge.

"I'd like to get hold of that ring. Jupiter! seventy-five dollars is a price to pay for an old ring like that, but it's what that strange man in black offered me to secure it for him. There's something mighty mysterious about that ring. I wish I knew what the mystery is. I am going to ask the man when I see him this evening."

That night Snell escaped from the building and the grounds without obtaining leave. He was going to keep an appointment with the man in black.

CHAPTER XXXIII.

PLAYING THE SHADOW.

Snell was followed.