Hodge quickly recovered from his stupefied condition, and dashed out into the corridor to look for the miscreant.

"It must have been Snell," was his decision. "I will look for the sneak."

Straight to Snell's room he rushed, but Snell's roommate, who was studying, declared Wat had not been there in the past hour.

This put Bart at sea for a moment. Where could he find Snell?

Looking at the recitation board, he saw that Snell should appear in the recitation room in a very few minutes.

He could not be confronted there. What plan of action could be devised?

He did not wish to give Snell time enough to conceal the ring. If the fellow could be caught with it still in his possession, it might be possible to make him disgorge.

It was time for Frank to return from recitation. The thought of facing Merriwell with the confession that the ring was gone made Bart's knees weak; but he decided that that was the proper course to pursue, and so he hurried to their room.

Frank had just got in, and, by the look on Hodge's face, he instantly saw that something of an alarming nature had happened.

"The ring!" he cried. "Where is it?"

"I think Wat Snell has it," came huskily from Bart's lips.

With one bound, Merriwell caught his companion by both shoulders, staring straight into his face.

"Have you, also, turned? No! no!" he quickly went on. "I do not think that of you, Bart! You are still true!"

"No, I didn't go back on you," said Hodge, thickly; "but I was guilty of criminal carelessness."

"How did it happen? Tell me quick!"

Bart did so, speaking swiftly, so that no more moments were wasted.

"It is probable that Snell has it," said Frank. "He must be apprehended without delay. Come."

He took the lead, and Bart followed at his heels.

But they were not to confront Wat Snell at the door of the recitation room, as Merriwell hoped, for they were not long in learning that the fellow had lately obtained a pa.s.s and left the grounds. According to Snell, his uncle was to pa.s.s 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 hoa.r.s.ely commanded. "Hands off, or you will get hurt!"

"I'll never take my hands off you till you give up that ring, you scoundrel!"

The man having encountered Frank before, well knew that the boy possessed remarkable strength, which would not make it an easy thing to shake him off.

"Let go!" he hissed.

"I will not!"

"Then take that!"

Something bright and gleaming, like the blade of a knife, flashed in the man's hand. He struck, and with a cry, Frank, fell heavily to the platform!

CHAPTER x.x.xVI.

THE SECRET OF THE RING.

Astonished and horrified though he was, Bart Hodge realized that Frank had been stabbed. At that moment, with the lack of resolution that was characteristic of him on occasions of peril, and not through fear, he stood quite still and did nothing.

Without a shout or a sound, the man in black leaped toward the end of the station, where a saddled and bridled horse was. .h.i.tched to a post.