The chums went out on the steps of the school, where they found a group of their friends waiting for them.

“How are the fellows getting along who were nearly drowned?” asked Skeets.

“Fine and dandy,” replied Fred, who by this time had regained his usual good nature. “Not one of them is going to kick the bucket. And what do you think, fellows? They’re all Belden boys.”

“Belden boys!” echoed Shiner. “Our chief rivals! That’s what you call heaping coals of fire on their head.”

“I guess coals of fire would have felt comfortable when they were out in the lake,” laughed Mouser. “But I’m mighty glad they’re getting along all right. If any of them had died, I’d expect to hear their ghosts walking about the halls of the building to-night.”

“Listen, to him talk,” said Howell Purdy scornfully. “You can’t hear ghosts walk. They just float around as soft as anything.”

“That’s right,” came in a chorus from the boys, who had involuntarily gathered a little closer together at the talk of ghosts.

“No, he isn’t right,” chirped up Billy. “Mouser had it straight when he talked about hearing ghosts walking.”

“There you are,” said Mouser, glad of the reinforcement.

“It’s easy enough to say that,” put in Howell, “but how are you going to prove it? All the books I ever read say that they don’t make any noise. You can’t bear them coming. So what do you make of that?” he added turning triumphantly toward Billy.