“No, no! Further down!” said Toby impatiently.

“Oh, further down! ‘Three hundred dollars reward will be paid for the return of mahogany launch Follow Me——’” Arnold gasped and went back to the beginning again. “‘Three hundred dollars’—Gee!”

“Isn’t that corking?” demanded Toby, gleefully.

“Just think of it!” exclaimed Phebe, dancing on her toes amidst the shavings. “Three hundred dollars, Arnold!”

“But—but are you sure this is the—the——”

“Read the whole of it, Arn!” prompted Toby, trying to see over his shoulder. “Read it aloud!”

“‘Three hundred dollars reward will be paid for the return of mahogany launch Follow Me, stolen from my landing at Hastings, N. Y., night of April 27, and no questions asked. Built by Wells & Stotesbury, sixteen feet long, four feet four inches beam, engine six-cylinder Thurston, brass trimmed, name on stern, but possibly painted out. Communicate with Paul Langham Townsend, Hastings-on-Hudson, or Eastern Launch Club, New York City.’

“What do you know about that!” gasped Arnold, and the piece of paper slipped from his fingers to the littered floor.

“You boys are in luck,” said Mr. Tucker. “Not that you don’t deserve it, though; for you do. Now we’ll write to this man Townsend and tell him to come and get her.”

“How long will that take?” asked Arnold eagerly.