"No, I didn't go back on you," said Hodge, thickly; "but I was guilty of criminal carelessness."

"How did it happen? Tell me quick!"

Bart did so, speaking swiftly, so that no more moments were wasted.

"It is probable that Snell has it," said Frank. "He must be apprehended without delay. Come."

He took the lead, and Bart followed at his heels.

But they were not to confront Wat Snell at the door of the recitation room, as Merriwell hoped, for they were not long in learning that the fellow had lately obtained a pass and left the grounds. According to Snell, his uncle was to pass through Fardale village on the noon train, and Wat's presence was desired at the station.

Of course both Frank and Bart immediately decided that this excuse had been used to enable him to reach the village and deliver the stolen ring to the man in black.

For all of their desire to pursue Snell hotly, they were unable to leave without permission, and so valuable time was lost. At length, however, they were on the highway, running side by side toward the village.

Frank had seemed cool and clear-headed, but, not knowing that Bart had fully completed the drawing of the lines on the black stone, in his heart he was feeling very desperate indeed.

Hodge had grown thoroughly angry, and Snell was likely to get hurt when Bart placed hands upon him.