h is kept locked in my own desk. You'll probably
find it in one of your pockets."

"I have been through every pocket in my clothes at least seven
times, sir," insisted the dismayed Edwards. "And that is a rather
valuable pin," he added; "worth, I believe, something, like fifty
dollars."

"Rest assured that we'll have some good explanation of the mystery
before long," replied the principal as soothingly as he could.

Edwards went away, sore and disheartened, but there was nothing
more to be said or done.

Thursday morning Dr. Thornton carried the investigation further,
but absolutely no light could be shed on the missing pin.

But at recess it was Frank Thompson who came upstairs breathless.

"Dr. Thornton," he cried, excitedly, "it's my own fault, of course,
but I'm afraid I've seen the last of my watch. It's one that
father carried for a good many years, and at last gave me. The
works are not very expensive, but the case was a gold one."

"How did you lose it?" inquired the principal, looking up over
the gold rims of his spectacles.

"Why, I had to hurry to make school this morning, sir, and, as
you know, it's a rather long walk. So I carried my watch in the
little change pocket in my reefer in order to be able to look
at it frequently. I reached the locker just in time not to be
late, and forgot and left my watch in the reefer. When I went
down just now I found the watch gone."

"Oh, but this is serious!" gasped Dr. Thornton, in dismay. "It
begins to look like an assured fact that there is some thief at
work. Yet Prescott alone has a key to that locker."

"Prescott is all right. He's no thief," put in Thompson, quickly.

"I agree with you, Mr. Thompson. I consider Mr. Prescott too
manly a fellow to be mixed up in anything dishonest. Yet something
is wrong---very wrong. For the safety and good name of us all
we must go to the bottom of this mystery."

That, of course, was all the satisfaction Thompson could expect
at the moment. He went out to the remainder of his recess, feeling
decidedly blue. Nor was Dr. Thornton any less disturbed.

When recess was over, the entire body of students was questioned
in the general assembly room, but no light was forthcoming.

"Of course, in view of what has happened," counseled Dr. Thornton,
"the young gentlemen will do well to leave nothing of value in
their coats in the locker rooms. And while nothing distressing,
has yet happened in the young ladie