"Oh, no, don't think of going," said Margaret hurriedly. "By the way, did you find an owner for the watch?"

"We have had several claimants, but no real owner," said Jack. "It is a very handsome one, and almost anybody might be excused for wanting it."

"Yes, indeed. I would like very much to have it myself. How could it have been here when it does not belong to any one in our family?"

"There were strangers here last night, and we think that the man who stole it put it in Jack's pocket by mistake when he saw that the police were watching him."

"But we did not miss anything ourselves. One would think that if thieves were about they would try to pick up something when there was so much excitement. It seems very mysterious to me."

"Yes, and to every one," said Percival. Mr. and Mrs. Van der Donk came in shortly, and for a time there was a very pleasant conversation, but at last the old gentleman got upon the subject of his family, and before long the boys were yawning, and the old lady fast asleep.

"You will have to excuse us," said Percival, getting up, "but we boys had very little sleep last night, and we have to be back at nine o'clock in any event."

The boys took their leave, and when once clear of the house Percival said with a grin:

"I could not stand the old man and his genealogy, although we could have stayed an hour longer easily."

"I saw that you were beginning to yawn, and I must confess that I felt a bit drowsy myself."

"We won't find out anything about the watch through that girl, Jack,"

said Percival a little later. "Our plans of being cautious and all that did not amount to anything."

"No, and we are as much in the dark as before regarding the real owner. We may never know who he is, Dick."

"It looks like that," said Dick.

CHAPTER XI

THE CAT OUT OF THE BAG

As the boys were nearing the camp on their way back they suddenly heard the sound of angry voices, and Percival whispered:

"Wait a minute, Jack. Some of the boys are having a quarrel, and I believe I know who they are."

"I told you to let my boat alone, you idiot!" the boys heard Herring say just ahead of them.

They were in the woods adjoining the camp, and the two quarreling boys were very close to them.

"Well, I didn't hurt it!" they heard Merritt say angrily. "You are making a lot of fuss over an old tub that isn't any good anyhow.

Look how little Smith beat us this afternoon, and he the smallest boy in the Academy. I didn't hurt your boat."

"I say you did, and I told you not to go out with it. You've busted the engine."

"No, I didn't. It wasn't any good anyhow. You tried to put Sheldon's boat out of business, but you couldn't."

"You had as much to do with that as I did!" sputtered Herring.

"Well, you started it, same as you started telling that detective that Sheldon had a bad name in the Academy, and---"

"Shut up! Somebody will hear you. You had as much to do with that as-----"

Percival suddenly let out a great bellow, such as a calf in search of its mother might make.

"Gracious! what's that?" cried Herring in alarm, making a dash for the camp, the lights of which could be plainly seen.

Merritt followed in hot haste, frightened out of his wits, and Percival broke into a hearty laugh, not caring if the two conspirators heard him or not, and greatly enjoying their terror.

They may have done so, but they did not pause until they reached the camp, and were challenged by the sentry.

"That's good!" laughed Dick. "And we have found out something as well. Now we know who it was who tried to put your boat out of commission. I have always suspected those rascals of having had something to do with it, and now I am certain."

"Yes, but that was not as bad as-----"

"As trying to make you out a bad character. No, it is not. I had my suspicions on that score, too. If you had asked me to name the fellows who were most likely to do a thing of that sort I would have named them in a moment. They are just mean enough."

"Well, it does not matter," said Jack. "No one would believe them who knows me. It is not worth thinking about."

"But I think it is!" said Percival hotly. "You don't know how far a thing of that sort might go. Suppose the detective had arrested you before he saw the doctor or you had a chance to explain? It would have taken a long time to explain things away."

"I do not think so," Jack replied. "I have friends enough in town to say nothing of the Academy. Besides, who is going to arrest me in any such peremptory fashion as all that? Do you suppose I would submit to it?"

"No, I guess not!" and Percival laughed again. "You are a quiet sort of fellow, Jack, but when it comes to a thing of that sort you can be as lively as any one, myself for instance. I remember the time you knocked this same Herring bully down for insulting you.

It was a surprise to him, and to all of us, for we all thought you were a quiet chap who would stand most anything for the sake of peace."

"Well, I don't seek quarrels," Jack replied, "but being in one-----"

"As Shakespeare says you stick it out," and Percival laughed again.

"I think it ought to be known that Herring and Merritt tried to give you a black eye, Jack. It is no more than right."

"But they did not give it to me, Dick, and there is no use in stirring up trouble. Let it go. Both Herring and Merritt must know by this time that the Hilltop boys in general will not believe their lies."

"Well, if they do not they must be very stupid," grunted Percival, and by this time the boys were in the camp.

"Pete Herring and Erne Merritt saw a ghost!" laughed Billy Manners, as the boys came in. "They were frightened to bits. I believe myself that it was nothing but a white calf."

"You were frightened by a calf yourself once, Billy," chuckled Dick, "and declared that it was a roaring bull."

"Did I?" asked Billy innocently. "When was that?"

"You know well enough," said Percival, "so you need not be so innocent. However, I know what frightened Herring and Merritt."

"What was it?" asked Billy, and a number of others.

"Guilty consciences!" said Dick shortly, and with some emphasis, and then he and Jack went on to their tent.