At this dire threat Grace continued quickly. "Oh, well," she capitulated, "since you are in such a hurry—well, the fact is, Betty, Beauty's been stolen," and she delivered the terrible news in a hushed voice.

"Oh!" said Betty, horrified. "And your father valued him above all the rest. Are you sure he was stolen, Grace?"

"Well, I don't see what else could have happened to him." Now that she had delivered her news, Grace was once more as calm and composed as ever. "The horse couldn't very well file the padlock from the outside or climb out the window, and the groom wouldn't be very likely to take him for a gentle stroll in the middle of the night. And unless one of those things has happened, Beauty has been stolen. Anyway, he's gone, there's no doubt of that."

"That's pretty bad—I can imagine just how your father feels, Grace," Betty's voice was grave. "I do hope they will be able to trace him. Does your father suspect the gypsies?"

"Yes, ever since the store was robbed the other night, dad has been suspicious of them," Grace answered. "He has tried to watch his horses with especial care, too. That's one thing that makes him so tearing mad to-day. Oh, you should have heard him!" and Grace sighed at the memory.

"I remember," said Betty thoughtfully, "that Allen said something the other night when we went to visit their camp about the gypsies being expert thieves. From the way things have turned out I guess he knew what he was talking about."

"And they looked so nice and romantic, too," said Amy, and drew a sigh at the irony of fate.

This conversation took place between the girls on a certain morning several days after their memorable visit to the gypsy camp. A day or so before one of the large stores of the town had been looted and practically cleaned out. For two days Deepdale had been in a furore of excitement and indignation, for in the memory of most of the inhabitants no such crime had ever been perpetrated. There had been small robberies, of course, but that Hendall's, traditionally the oldest store in Deepdale, should have been treated to such insult, and by a band of roving gypsies, too—for every one suspected them from the first—why, it was unheard of! incredible!

Detectives and sheriff had searched the town from end to end but had found no sign of the missing goods. They had visited the gypsy camp, too, submitting it to a strict investigation, but with no result. The countryside had been scoured for miles around, but no trace had as yet been found of the missing criminals nor of their loot. Indeed, the thieves had covered their tracks well, and the inhabitants of Deepdale were beginning to lose hope of immediate reparation.

Such was the chaotic state of affairs on this beautiful summer morning when Mr. Ford had awakened to find his splendid horse, Beauty, the ornament of his stables and the pride of his heart, strangely and inexplicably missing.