Having finished their breakfast the boys started for the village, to call on Mrs. Cahill, their guardian and the custodian of their earnings. As they were leaving the grounds, Phil paused suddenly.

"Look there," he said, pointing to Mr. Sparling's office tent.

"Well, if it isn't Billy Ford, the president of our class," breathed Teddy. "I didn't see him at the train when we came in this morning; did you?"

"No. He wasn't there."

"Now, what do you suppose he is doing in Mr. Sparling's tent?"

"I haven't the least idea unless he is trying to find out where we are. Hey, Billy!"

Billy Ford paused at the sound of the familiar call; then the Circus Boys hurried toward him. Billy went suddenly red in the face as if he were very much embarrassed.

"What you doing in there?" demanded Teddy.

"Why—why—perhaps I was trying to join the show," stammered Billy.

"We wouldn't have you. You and I couldn't travel in the same show. They'd fire us both."