Cautiously, a foot at a time, and in Indian file, the three freshmen stole down the dark alleyway. Then Dick halted, passing back a nudge that Dave Darrin passed on to Greg Holmes.

"Now, ye needn't think ye're goin' to renig," warned the fellow who was nearer to the boys. "I done the whole job against Prescott, and I done it as neat as the next one. Why, you never even thought of the trick of slipping that watch and pin into Prescott's trunk, did ye? That was my brains. I supplied the brains, an' you've got to raise the cash to pay for 'em! How did I do that trick of slippin' the watch an' pin into Prescott's trunk! Oh, yes! Of course, ye wanter know. Well, I'll tell ye when ye hand me the rest o' the money for doin' the whole trick—-then I'll tell ye."

Something in a very low whisper came, in response, from the second party who was invisible to the prowling freshmen.

Dick Prescott felt that there was no need of prolonging this scene.
He had heard enough.

"Now, rush 'em! Grab 'em—-and hold 'em!" shouted Dick, suddenly.

As the three freshmen shot forward into the darkness something that sounded like an almost hysterical cheer in girls' voices came from the open, dark window overhead.

But neither Dick nor his chums paused to give thought to that at this important moment.

The unknown who had been doing most of the talking wheeled with an oath, making a frantic dash to get out of the alley and onto the street.

But Dick shot fairly past him, dodging slightly, and made a bound for the second party to this wicked conference.

Just beyond the doorway in which this second party had keen standing was a yard that furnished a second means of exit from the alley.