"I have been led to believe that Ashley Burton and Samuel Spottwood were the ringleaders of the enterprise, and that Topover, Digfield, Sankland, and the others we found on board of the Goldwing, had been cheated into going into the boat by you. Then, when they found you meant to leave them at the point, and go to Burlington, they had taken possession of the sloop, and were going to return her to her moorings," said the captain, smiling while he repeated the substance of Tom Topover's explanation.

"I suppose you can believe either story you please, sir. I am willing to tell the truth; and we all confess that we were very much to blame, though there was some excuse for our going on board of the Goldwing in the first place; and I am sure we did not go to her with the intention of sailing in her," answered Ash, frankly and openly.

Captain Gildrock seemed to be moved by the narrative of the speaker. He glanced from one to another of the penitents till he had examined all their faces. He did not say that he was impressed in their favor; but their bearing certainly compared very favorably with that of the original gang, who were in the majority in the party captured by the Sylph.

"I have been so much annoyed by these attempts to steal the boats of the institution, that I have decided to put a stop to them," continued the principal, after he had looked over the Burton party. "I intended to prosecute all the offenders engaged in stealing the Goldwing, if I found I could make out a good case; and I am now investigating the matter."

"I hope you will not prosecute us, sir," interposed Ash, very humbly, "for my father cannot very well afford to pay my fine."

"While I was inquiring about you, I heard about the fire which burned the house in which the mother of one of the boys I have on board the Sylph lived; and I was told at first that a little girl, this boy's sister, had been burned to death."

"Not so bad as that, sir," replied Ash.

"I have just been to see the foreman of the engine that went to the fire, and I have obtained all the facts from him," continued Captain Gildrock. "But I can't investigate the case here. If you can come on board of the Sylph, where the six boys I found in the Goldwing are, I think we can soon settle the matter so that I shall know what to do."

"We will go there at once, sir," replied Ash; and all the others assented. "But here is the six dollars paid me for taking out the parties at the picnic."

"No matter about that now," added the principal, as he drove off.