“I’ll venture it contains nothing more than the remains of a lunch,” declared Louise. “This is going to be a good joke on you, Penny.”

“A joke?” quavered Penny.

Her gaze had focused upon a hole in the paper. Through the opening protruded a long strand of dark hair.

Louise saw it at the same instant and uttered a choked, horrified scream.

“Human hair—” she gasped. “Oh, Penny! Turn it over to the police!”

“It can’t be that,” said Penny in a calmer voice.

With trembling fingers she untied the string. The paper fell away and several objects dropped at Penny’s feet. Stooping, she picked up a girl’s long black wig. In addition, there was a dark veil, a crushed felt hat, and a cheap cloth jacket.

“A disguise!” exclaimed Louise.

“Yes, the girl who tossed this bundle into the river was the same one we saw aboard the steamer! But why did she wear these things and then try to get rid of them?”

“Why, Penny, don’t you understand?” Louise demanded impressively. “She was a crook just as I thought. And she must have been the one who robbed Tillie Fellows!”