The boys were good runners, and they covered the distance between the academy and Fardale village in a very short time.

Once within the village, they began inquiring for Snell, and it was not long before they discovered people who had seen him. To the post office they went, and then they were told that a boy answering Snell's description had been seen going toward the railway station.

"It would be a corker if the fellow had really come to see his uncle!" said Bart.

"I do not take any stock in that now," declared Frank.

"Nor I; but I don't understand why he is making so many twists and turns since reaching the village. If he has the ring, why didn't he take it straight to the man in black?"

"Perhaps he knows as little about where to find that individual as we do."

"Possibly."

They came in sight of the station, about which were several carriages, while a few people were seen on the platform, waiting for the midday train.

Reaching the station, they came sharply round the first corner, and found themselves face to face with Wat Snell and the man in black.

At that very instant Snell accepted some money and surrendered something to the stranger.