"Of course I do, sir," replied Ralph, wondering greatly. "You have both always been kind to me."

"Well, now, I am going to say something that may seem hurtful," the master went on. But then he stopped as he encountered those calm, brave eyes, and he motioned to Mr. Delermain. "Suppose you speak?" he said, and Ralph's own master complied.

"Rexworth," he said quietly, "it is not pleasant to say anything that could be interpreted into the faintest suspicion of doubting your honesty——"

"I hope that you do not doubt it, sir," replied Ralph quickly. "It would be a very great trouble to me if you did! But I see that something is wrong; and if that is so, it is best to know it at once in plain language. If you have to say anything to hurt me, it must be something grave indeed!" he added.

"It is grave," acknowledged the master. "You remember, last evening, knocking a banknote from my desk, and picking it up for me?"

"Perfectly well, sir."

"I replaced that note on my desk, and, having some letters to write, I forgot to take it up again; and when I went to post my correspondence, I left it there on the desk. When I returned, the note was gone, and the only person who was near my room, so far as we know, was yourself. Dr. Beverly saw you there."

"And you think that I have stolen your banknote, sir?" cried Ralph, regretfully. But Mr. Delermain shook his head.

"No, no, Ralph! You must not go so far as that. I only tell you the facts, as far as we know them. The note was there, the note has gone, you are the only one who was seen near the spot!"

"There was some one else, sir!" cried Ralph; and he narrated how some one had pushed against him and run down the dark corridor. Both masters listened gravely as he did so.