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44 he told us his loss. That's how we happened to be the first, after Mr. Farson himself."

"Oh, I see," spoke Harry. "Then you were at the boat before he was?"

"Cut it out; can't you?" demanded Dave of his friend, in a hoarse whisper.

"Yes," said Frank quietly, "we were there before Mr. Farson," and he looked the other student straight in the eyes.

"And you didn't see anything of our cups?"

"Just what do you mean?" demanded Frank quietly, half rising In his chair, while Tom laid a hand on him in restraint.

"Oh," went on Harry easily, "I thought maybe you fellows might have taken our trophies"

"Hold on!" cried Frank, and he arose with such suddenness that his chair overturned. Tom arose also, and clung to the arm of the Big Callfornian, whispering rapidly:

"Quiet, Frank. Keep quiet! Don't have a row here!"

"In a joke!" finished Harry Cedstrom with an attempt at a smile. There was a dead silence in the groups of students.