as Merriwell hoped, for they were not long in learning that the
fellow had lately obtained a pass and left the grounds. According to
Snell, his uncle was to pass through Fardale village on the noon train,
and Wat's presence was desired at the station.

Of course both Frank and Bart immediately decided that this excuse had
been used to enable him to reach the village and deliver the stolen
ring to the man in black.

For all of their desire to pursue Snell hotly, they were unable to
leave without permission, and so valuable time was lost. At length,
however, they were on the highway, running side by side toward the
village.

Frank had seemed cool and clear-headed, but, not knowing that Bart had
fully completed the drawing of the lines on the black stone, in his
heart he was feeling very desperate indeed.

Hodge had grown thoroughly angry, and Snell was likely to get hurt when
Bart placed hands upon him.

The boys were good runners, and they covered the distance between the
academy and Fardale village in a very short time.

Once within the village, they began inquiring for Snell, and it was not
long before they discovered people who had seen him. To the post
office they went, and then they were told that a boy answering Snell's
description had been seen going toward the railway station.

"It would be a corker if the fellow had really come to see his uncle!"
said Bart.

"I do not take any stock in that now," declared Frank.

"Nor I; but I don't understand why he is making so many twists and
turns since reaching the village. If he has the ring, why didn't he
take it straight to the man in black?"

"Perhaps he knows as little about where to find that individual as we
do."

"Possibly."

They came in sight of the station, about which were several carriages,
while a few people were seen on the platform, waiting for the midday
train.

Reaching the station, they came sharply round the first corner, and
found themselves face to face with Wat Snell and the man in black.

At that very instant Snell accepted some money and surrendered
something to the stranger.

Frank's keen eyes saw that the something was the stolen ring.

With a cry, he leaped forward, flinging Snell aside, and grasping the
man.

"Give me that ring!"

A fierce exclamation of fury broke from the stranger's lips, and he
swiftly thrust the ring into his pocket.

"Hands off, boy!" he hoarsely commanded. "Hands off, or you will get
hurt!"