"I was afraid you'd be in bed," he panted, "and I ran until I'm all out of breath."

"But what's the matter?" asked Ed.

"Come on in and sit down," invited Jack. "We're not particular whether we go to bed or sit up the rest of the night. Come and join us. But has anything happened?"

"No; I—I can't stay," and Paul leaned against the doorway. "But I found this in my coat pocket—it's a diamond ring. I was nearly home when I discovered it. I thought some of the girls or ladies might be frantic over the loss, so I hurried back with it."

He handed over the sparkling object.

"Whew! That's a beauty!" exclaimed Jack. "A new one, too! Look, Ed! If that isn't an engagement ring I'll eat my war club! Now, what young lady, do you suppose, could have used our grounds, our hospitality and eaten of our swell supper with the malicious aforethought of becoming pledged to unite herself in the holy bonds of matrimony? Who could have done it? And then to lose the guarantee that goes with it! It's past belief!"

"It certainly is new," said Ed, critically examining the ring with its sparkling stone. "About a carat and a half, I should say. Never cost less than three hundred dollars. Whoever bought it must have plenty of cash. But how on earth did it get into your pocket, Paul?"

Ed was rapidly thinking of something that had happened to him that nigh.

"That's what gets me," replied Paul. "Of course, these costume rigs are full of holes and corners. A girl might have been dancing with me, and the ring may have slipped from her finger into my pocket. Perhaps it was too large for her, being new. But I did not notice that I danced with any one wearing it."

"Still, it might have happened that way," admitted Jack, "especially if she kept the stone turned in so no one, would see it. That's a trick they have."