There were several anxious hearts beating under boyish coats when the opening exercises were held the next morning. The burglar schemers watched the two assistants file in and take their usual places on the raised platform.

"How do they look?" whispered Nat to Jack.

"Don't seem to have an awful lot of fire in their eyes," was the answer.

"Wait until Dr. Mead begins," whispered Sam, a sort of Job's comforter.

But to the boys' astonishment, there was no reference to the night's prank. The exercises went off as usual, though every time Dr. Mead cleared his throat, or began to speak on a new subject, there was a nervous thrill on the part of the conspirators.

"I have one more announcement to make, and that will end the exercises for the day," the head of the Academy said.

"Here it comes," whispered Jack.

"Will Slade and Nat Anderson are requested to meet Professors Hall and Gales after chapel," was what the doctor said.

There was a little buzz of excitement among the students, for the story of the escapade had become generally known.

"Glad I'm not in their shoes, but I suppose we'll all come in for it," said Sam, as he and the others filed out of the assembly room. Will and Nat remained, their spirits anything but pleasant.