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204 had not thought of the water tower, too. But he stifled the impulse and thereby doubtless saved the chief the trouble of dismissing him for impudence and insubordination.

"Yes," said Hurd Applegate, "the Hardy boys recovered the treasure. And I think you will admit that Mr. Robinson is cleared. Personally, I am satisfied that he knew nothing whatever of the theft and I want to apologize to him for any unjust suspicions I may have had. Mr. Robinson, will you let me shake your hand?"

Trembling, Henry Robinson stepped forward. His face had been illuminated by a glow of incredulous hope from the moment he learned of the discovery of the loot.

"Am I really cleared?" he asked. "I knew things looked bad against me all along. I hardly dared hope—"

"I guess you'll be let off now all right," said Chief Collig grudgingly.

"There will be formalities, of course," said Fenton Hardy. "But I'm pretty sure the prosecution won't continue. The discovery of this loot proves Red Jackley's story was correct from start to finish."

"But how about that nine hundred dollars?" demanded Smuff suspiciously.

Mr. Robinson straightened up.

"I'm sorry," he said, "but even yet I can't