about a hundred of them, but it seemed to the
teachers who watched them go that there were easily twice that number.

"They've struck," said Miss Race, turning to the other teachers with
consternation in her eyes, while they looked back at her soberly. "I
wonder what Miss Walters will say."

"We'll very soon find out what she'll say," Miss Cora Dill spoke up
grimly. "I sent a wire to Miss Walters this morning. She will surely be
back in a day or two."

Meanwhile, out on the road, the girls were trudging gamely on toward
town. The first thrill had gone from the adventure, and they were
beginning to wonder what made their grips so heavy.

And the snow, which had begun in a light flurry, was coming down heavily
now, covering the woods and the road before them with a white fleecy
blanket.

The wind had risen, too, and they were forced to stop time and time
again to straighten hats and shake the clinging snow from their skirts.

And because of the wind they did not hear the sound of voices. So that
Chet and Teddy, coming back from their errand to town, were almost upon
them before they knew it.

And then something happened that made the girls drop their bags and
stare in stupid amazement.

Out from the bushes straight in front of them sprang the figure of a
man. And at the same moment Chet and Teddy rounded the curve of the
road.

The man straightened and looked wildly from one group to the other, and
then made as though to double on his tracks and dive into the woods
again.

"Stop that man!" shouted Teddy. "He robbed our Academy! That's right,
girls--head him off!"

For Billie, with a gasp of astonishment, had recognized the Codfish, and
seeing what he was about to do had darted forward straight in his path.
A score of the other girls followed her example, and so quickly was the
move made that the man found his escape cut off entirely.

Wildly he looked about him, started in the other direction, but found
his path blocked there also.

With a snarl of rage he flung himself forward, resolved to break his way
through by force, but Teddy and Chet were too quick for him.

Not for nothing had they won medals on the track team, and now, as the
thief made his last attempt, his arms were caught in a strong grip and
were twisted behind him so suddenly that he cried out with the pain of
it.

It was Teddy who had caught him, and now as the man struggled to free
himself he called out a sharp order to Chet.

"Give m