"You—you miserable scoundrel!" gasped Frank. He made a rush for the bully, who instinctively stepped back.

"Don't—don't you dare touch me!" whined Welter, as the knife dropped from his trembling hand.

"Touch you! I'll give you the best thrashing you ever had!" cried the young captain. "What are you trying to do; ruin our shell so we can't race?"

"I—I was just—just seeing——"

"Don't make it any worse," broke in Frank bluntly. "I saw you jab one hole in it, and you were just going to make another when I caught you."

Once more the young captain approached him, and Welter shrank back.

"You ought to be put out of the school!" cried Frank. "What did any of us ever do to you that made you think of such a mean trick as this?"

"You—didn't you knock me down once?" demanded Welter.

"Oh, so that's the reason? You wanted revenge on me. Well, why didn't you come out like a man and say so? I'd have given you satisfaction any time. I'm going to have it out of you now."

"Don't you dare touch me!" cried the bully again.