“But I don’t like to lose that,” went on Len. “I guess I will go back and have a look in my shack. If I can’t find it I’ll stick up a notice.”

“You might have dropped it when we met that other bunch of freshmen and had the little argument with them about their hats,” suggested Clarence.

“That’s right,” went on Mortimer, still pulling on Len’s arm, as though to get him away from the spot. “Maybe one of the freshmen frisked it off you,” he added, looking at Andy.

By this time the trio had turned half-way around, evidently to go back to Scott’s room and look for the missing pocketbook. Andy had a clear view of the object that had fallen from under the coat of one of them.

“There is something,” the freshman said, pointing to the object on the pavement. “I saw one of you drop it. Perhaps it is the pocketbook.”

Len wheeled and made a grab for it.

“That’s mine!” he cried. “It must have worked up out of my pocket and fallen. Thanks!” he added, warmly, to Andy.

With a quick motion Len opened his wallet. A strange look came over his face as he cried:

“It’s empty!”

“Empty!” gasped Mortimer. “Let’s see!”