“Of course!” exclaimed Phil. “They’re gone—some one must have taken the signals.”

Tom dimly recalled a certain scene he and Phil had witnessed, and also remembered the words of the coach when he had made a shift of the signals. Phil looked at Tom. He was thinking of the same thing. Suddenly Phil uttered a cry. From the deep, curved frame of the picture he held up a small gold watch-charm.

“Look!” he exclaimed.

“A freshman charm!” spoke Sid slowly, as he recognized the device affected by a certain first-year secret society.

“Whose is it?” asked Tom.

“There’s no telling,” replied Phil.

“Yes, there is,” went on Sid. “They always have their initials on the back of the charm. Look and see.”

Phil turned it over.

“Whoever left this here must have taken the copy of the signals,” he said slowly. “He probably took down the picture and removed the paper. In doing so the charm slipped from his watch-chain and fell in the deep frame. He must have held it about at his belt to bend up the wire, for it was stiff.”

“Whose initials are on the back?” asked Tom in a low voice.