Silence followed the pronouncement of this ingenious theory, and then Ned burst out with:

“That’s it! That’s how it happened! The sneak!”

“Now go a bit easy,” advised Jerry. “I’d want pretty good proof before I’d believe any fellow would squeal on another in that way—and slip a key to the proctor.”

“Well, I believe Frank did it,” declared Ned.

“So do I,” concurred George. And while some expressed their belief to that effect, others were doubtful. Ned, however, was firm in his belief that Frank was guilty.

“And I’m going to tell him so to his face, and offer to punch it for him,” he declared.

“Better be careful,” advised Jerry.

“So had he,” murmured Ned.

The more the three chums thought of what George had told them, the more they became convinced (Jerry and Bob, for Ned was already satisfied) that Frank must have reported them.