"Quite a Sherlock Holmes!" said Agnew. "This is a very interesting little romance. The only trouble is that, like most romances, there isn't a word of truth in it."

"You are the man who stole the printed question slips. You wanted them for your own use, so that you might not fail in this examination. When you knew what they were, and had prepared answers, you planned to use them to throw Badger down, hoping that if the theft of the slips were discovered the blow would fall on Badger."

"You're away off, Merriwell!"

But Frank went remorselessly on:

"Last night, in the saloon, during that fight, which was of your own seeking, you contrived to put those forged answers, in imitation of Badger's handwriting, into his pockets, where Professor Barton found them to-day. You are a forger, Agnew, and you have lately been passing counterfeit money!"

"Not a word of truth in any of this!" Agnew shakily declared.

"Some of these things I might find difficulty in proving, though I am as sure of them as that you are sitting there. But of other things I have the proof. Now, I am going to give you your choice: Write at my dictation a confession that will clear Badger of the charge of stealing the question slips and using those answers, or I shall take steps at once which will land you in the penitentiary!"

Agnew grew sick and blind.

"I can't do what you say!" he begged. "My God, Merriwell, even if the things were true—which I deny—I couldn't do it! It would disgrace me forever!"

"The faculty and professors are not anxious to bring odium on the good name of Yale. Your confession, I am sure, will not be made public. You ought to have thought of the disgrace when you were doing those dastardly, cowardly things! It is too late now."