“It was well won!” cried Bart Conners. “But, say, wasn’t there something the matter with your boat at first?”

“Sure there was,” answered Pepper. “Somehow, a rope caught fast to the bottom. If it hadn’t been for that I think we should have won with ease.”

“I’d like to know how that rope got there,” said Andy. But the mystery was never explained.

Half an hour later the race came off between the Putnam Hall cadets and the crew from Pornell Academy. None of our friends took part in this affair, and to witness it to advantage Jack, Pepper, and Andy went out in a small rowboat and stationed themselves near the course.

“There is that yacht that passed us while we were racing,” observed Andy, pointing the craft out. “See the girls who waved their handkerchiefs at us.”

“They look to be nice girls,” said Jack. “Let us get a little closer to the yacht.”

“Hullo, Jack must be smitten!” came from Pepper.

“Nonsense!” murmured Jack, turning red. “I only wanted to see who the gentleman was who is on board.”

“I know him,” came from Andy. “His name is Ford, and he has a fine estate further up the lake. Somebody told me he was rich. Those girls must be his daughters.”

“I don’t believe he knows much about handling a yacht,” said the young major. “See how he is bringing her around.”