You're on your honour, so are we all." Noble society! Organised dishonour held together in bonds of honour! If boys were only to cast round what is right the same shield of honour which they so often cast round what is wrong, what a world this would be! When Heathcote and Dick met that evening in the dormitory, they had something more important to talk about or to be silent about than the select "Sociables." "Look here, old man," said Dick, thrusting a piece of newspaper into his friend's hand.

"They wrapped up the notepaper I got in town to-day in this.

It's a bit of last week's _Templeton Observer_." Heathcote looked at the paragraph his friend pointed to, and read:-- *The mysterious disappearance of a boat* .-- Up to the present no news has been heard of the _Martha_ of Templeton, which is supposed to have been stolen from its moorings on the night of the 24th ult.

The police, however, profess to have a clue to the perpetrators of the robbery.

It is stated that late on the evening in question a lad, without shoes or stockings, was seen on the strand in the neighbourhood of the boat, and as the lad has been lost sight of since, it is supposed he may be concerned.