"This is interesting, to say the least," was the comment of the oldest Rover boy. "Wonder if Dangler has friends or confederates in Ithaca?"

"We must notify the police of this," said Tom. "And the sooner the better."

Satisfied that they could learn nothing more by remaining around the log cabin, the boys departed, and inside of an hour were on their buckboard and bound for the farm. From that place they called up the authorities and informed them of what they had learned. Another search was at once instituted for Bill Dangler, but the rascal was not captured.

The next day Mr. Anderson Rover came home, and the boys and Randolph Rover had to acquaint him with all that had taken place. He shook his head when he heard of the unregistered bonds.

"I am afraid you will never see them again, Randolph," he said to his brother.

"I am afraid so myself," was the mournful reply.

Anderson Rover had come home to see his boys off to school.

"I want you to make the most of your opportunities while at Putnam Hall this term," he said, "for it is to be your last."

"Yes, I know that," answered Tom. "But after that, what?"

"We will talk that over later, Tom. You must either go to college or get ready to go into business."