Probably some toy balloon let up by Christmas Eve revellers, who little thought it would alight on the roof of Jolliffe's, and after flopping about there for some minutes would finally tumble into the court below, and there act the part of Bubbles to a handful of scared schoolboys.
However, all's well that ends well, and among the many amusements which made that day a Merry Christmas to us all there was none over which we laughed more than "Bubbles's Ghost.".