Millie’s grandmother was not rich, but she had some gold and silver jewelry put away in a box in her home. Some of the rings and pins were those Millie’s grandmother had had since she was a little girl herself, and there was one pretty bracelet that Mrs. Norman (which was the grandmother’s name), had promised to give Millie.

Mrs. Norman had hidden her box of jewelry under the bed when she went out, thinking that would be a safe place. But, would you believe it? That was one of the first places the tramps looked when they finished their meal.

“Ho! Ho!” laughed the tramps. “Here it is!”

With their coarse, rough hands they broke open the box, for the lock was not strong. Inside glittered the gold and silver jewelry of Mrs. Norman, and the sun sparkled on the pretty bracelet that was to be Millie’s.

“Ho! Ho!” laughed the tramps. “This will bring us money when we sell it!”

The tramps were looking at the jewelry in the box when, all at once, the red-haired one cried:

“Hark! I hear some one coming! We’d better run!”

“Come on!” exclaimed another.

So the next thing Toto, the watching beaver, saw was tramps come rushing from the house. Toto did not know what the tramps had done in the house, but he saw them come rushing out, the red-haired one carrying a small box. Of course Toto did not know what was in the box. Beavers have no use for jewelry.

“Come on!” cried the red-haired tramp. “Come on! Maybe the police are after us!”