kers. He said he was only keeping them to get
square with you, and that he would return them to you before the term
closed."

"Found them in the gym?" repeated Pepper.

"I don't believe it," came firmly from the former major of the school
battalion. "I believe he took them; and I believe he took the other
things, too!"

"And I believe that myself, now!" cried Gus Coulter. "Oh, my eyes are
open! I used to think Reff was a pretty good fellow, even though
something of a bully, but I am learning that he is bad through and
through. Paxton saw him sneaking through the dormitories at night, and
he got afraid of him and cut him."

"And what of Cameron Smith?" asked Jack. "You said he was bad?"

"He is. I didn't know it at first, but I heard about it during the
holidays, when he and Reff went off on what they called a good time."

"Can you give me Smith's real address?"

"He claims to come from Boston, but I know Reff once sent him a letter
addressed to Springfield, care of the Excelsior Hotel."

Having once opened his mind, Gus Coulter talked freely of his doings
with Reff Ritter. He said the bully had quite some money at times, but
the amount was quickly spent.

Just as Mr. Darwood drove around to the door with his sleigh Andy came
back to the farmhouse.

"I had some hot words with Ritter," he explained. "He was just as
bullying as ever, and gave us no credit for hauling him out of the lake,
and he said if Coulter was drowned it would be his own fault. Oh, he is
the limit!"

The ride to Putnam Hall was a short one, and on arriving at the school
the cadets hurried to their dormitories to change their damp clothing
for suits which were perfectly dry. In the meantime Jack asked Pepper to
find Captain Putnam and tell the master of the school that he wished to
see him on a matter of great importance.

A little later the former major of the school battalion entered the
captain's private office, followed by Pepper and Andy. They found
Captain Putnam staring at a telegram that had just come in.

"Well, what can I do for you?" he asked.

"I've got something to tell you, sir," returned Jack, and as briefly as
possible he narrated what had occurred on the lake and repeated what
Coulter had told him. As he progressed Captain Putnam shook his head
sadly.

"It must be true," he said almost brokenly. "It all fits in--this
telegram and what you say."

"The telegram?" repeated Jack.

"Yes, Ruddy. This telegram is from Mr