roperty?"

"Eh? Proof? It seems as if he did give proof of some sort, but really
I don't know as he did. He was such a plausible person--so very smooth
and convincing. Why, I did not think of doubting him. But I know your
record very well since entering the academy, Merriwell. It is
satisfactory--quite satisfactory. I do not think you are the sort of a
lad to tell a deliberate falsehood--no, sir, no."

"Thank you, sir."

"That being the case, I shall have to accept your statement--yes, I
will accept it. He said he would call again to-morrow. Let him come!
I think I will have an officer on hand--he shall be arrested the moment
he shows himself. That's right--that's proper. Hum! ha! Assaulted a
cadet of Fardale Academy, did he? Attempted to rob a student at this
school, did he? Well, he shall be duly and properly punished--yes,
sir."

The professor had worked himself up into a state of considerable
excitement, seeming to have forgotten his headache for the time. He
got upon his feet and went tramping about the room in his slippers, the
heels of which had been trodden down. He perched his nose-glasses far
down on his pointed proboscis, and glared over them in a way he had
when he was endeavoring to appear very impressive before a class.

Under other circumstances Frank might have smiled at the figure cut by
the excited old man, but he was now far too angry himself to note what
was ludicrous.

"Take care of that ring, young man," advised the professor--"take the
best of care of it. It may be more valuable than it appears. There is
certainly something connected with this ring that makes it valuable to
this stranger--or else the man is a lunatic--yes, sir, a lunatic. I do
not think that--no, I do not. He appeared rational--he was quite sane
when he was here--quite so."

"I have ever regarded this ring as simply an ugly ornament that my
father ran across and took a fancy to; but now I believe it must be
something more."

"It is likely--quite likely. It seems that there is a mystery
connected with the ring. It may be solved soon--very soon. This
stranger must know a great deal concerning it. Perhaps he will tell
what he knows--perhaps he may be induced to tell."

The professor said this in a peculiar way, that seemed to say "strong
inducements" would be held out to the strange man in black.

Frank had seen Professor Gunn, and asked his question, but the mystery
was deep as ever when the boy