up very straight, and saluted.

'Come to report, sir, on the robbery at the warehouse.'

'What!' shouted Mr. Jim Elliott, and his eyebrow went up higher than
ever.

'Went on scout, sir, last night, about ten,' began Chippy, and then
plunged into the recital of his adventures.

He had no more than fairly started when the door whirled open once
more, this time without any formality of tapping, and in burst the
senior partner in a state of great excitement.

'Jim, Jim,' he called out, quite failing to notice that his brother was
not alone, 'there's more stuff gone. The warehouse was broken into
again last night, for all the police were on the watch. Altogether a
good seventy pounds' worth of goods have been stolen.'

'Ah, yes, Richard,' returned his brother. 'I'm just receiving a report
on the matter from one of my scouts.'

'About the burglary,' cried the senior partner, knitting his brows in
wonder and astonishment, and observing for the first time the
bolt-upright figure of the Raven, who promptly saluted. 'Do you mean
to say this boy knows something about it?'

'I fancy he does,' returned Mr. James Elliott. 'Take a chair, and
we'll hear what he's got to say. He'd only just begun his report as
you came in.'

The senior partner sat down, and stared at Chippy with an expression of
doubt and perplexity. 'But suppose we're just wasting time here, Jim,'
he expostulated.

'Better hear what he's got to say,' said the instructor quietly; 'he's
a good scout, and a good scout doesn't waste people's time. Now. No.
1, Raven Patrol, go on with your report, and make it short and clear.'

Chippy went ahead at once, and for five minutes the two gentlemen
listened in perfect silence to his husky voice as he ran swiftly over
the points of his adventure. He stopped speaking, saluted, and stood
at attention once more.

'Never heard a more extraordinary narration in my life,' burst out the
senior partner. 'It sounds incredible; the boy's been dreaming.'

'No, I think not,' replied his brother; 'or if he has, we can soon put
his statement to the proof.'

'Just what was in my mind,' said Mr. Elliott; 'we'll take him down to
the warehouse at once, Jim, and look into this.'

A four-wheeler was called from the hackney stand near the church, and
within a few minutes the two partners and the errand-boy were being
driven to the waterside. At the gate of the warehouse yard they met
Mr. White, the manager.

'The thin