Dixon raised the trap-door, revealing the flushed and excited
faces of the commandant and officer of the day, who were most
respectfully saluted when they entered the belfry.

CHAPTER VII.

OLD TOBY'S MONEY.

"Young gentlemen, what is the meaning of this new outrage?" demanded the
colonel angrily.

"A tussle over the flag, sir," replied Dixon, standing very stiffly and
raising his hand to his cap. "The old one having mysteriously
disappeared, it became necessary to hoist a new one, sir."

Of course the commandant knew long before this time that the colors had
been taken from his bureau, and he knew, also, that the theft had been
committed under cover of that sham fight in the hall; but he did not say
a word about it. To be candid, he did not think it would be good policy
to try to sift the matter to the bottom, for fear of implicating some
profitable student whom he could not afford to expel. Being proprietor
of the school, he desired to keep it intact as long as he could.

"And during the tussle two of your number came very near being
precipitated to the ground," exclaimed the colonel. "I shall put a stop
to this insubordination if I have to order the whole school into the
guard-house."

"Very good, sir," answered the boys.

"Go downstairs, all of you," commanded the officer of the day. "Sergeant
Rodney and Private Marcy Gray, report to me at once."

The students hastened down the ladder, wondering what was to be the
result of this "new outrage." When they reached the hall one of them
said, in tones loud enough to be heard by all his companions:

"Graham is a traitor. He stole the old flag, but he furnished a new one
to be hoisted in its place."

"There's where you are wrong," exclaimed Marcy promptly. "Dick had
nothing whatever to do with it, and when he saw this new flag, he was as
much surprised as the rest of you were. I have had it concealed in my
room for more than six weeks. I meant to be ready for you, you see."

"Where did you get it? if that is a fair question."

"It was made by a young lady who lives in Barrington, but of course you
do not expect me to mention her name. She is true to her colors, and
that's more than can be said in favor of you fellows who would have
hauled it down if you had possessed the pluck."

"That was well put in, Marcy," said Rodney. "There isn't pluck enough
among the whole lot of them to fit out a good-si