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four chums stared, almost uncomprehendingly, into the open box. It was of good size, capable of holding several trophy cups, with compartments, velvet lined, for smaller pieces of jewelry.

"The things all fell out!" cried Tom. "They must be scattered around here somewhere. Let's look," and he started off.

"No use," said Frank, quietly.

"Why not?" asked Tom, in wonder.

"Because those things never fell out of that box," went on the Big Californian.

"Why didn't they?" demanded Phil. "When the box was knocked around in the water, or even inside the locker, why wouldn't it be split open and the things fall out?"

"It wasn't split, as you can easily see," went on Frank, calmly, "and the cover wasn't forced open by banging against the rocks. It was opened by some slender instrument being shoved under the catch, and then pried upon. See, there are the