He straightened up and took another look around.  Not a soul was in sight.  With dexterous fingers he unfastened the watch and chain and transferred them to his pocket.  The stickpin followed.  Then he slipped his hand into a vest-pocket and brought out a five-dollar bill and three one-dollar bills.

“Eight dollars!” he muttered.  “Not so bad but what it might be worse.  I reckon the watch, chain and pin will bring me another twenty or thirty.  Sparrow, you are in luck to-day.”

He lingered, wondering if Andy had anything more of value about him.  The youth wore a ring with a cameo in it, but it looked tight and hard to get off.

“Might try his other pockets,” mused the thief.  Then a distant shouting came to his ears.

“Somebody is after him,” he muttered.  “I reckon it’s time I cleared out.  It won’t do for me to be seen in this neighborhood.”

He looked around for an instant.  Then he walked to the roadside, ran in among the trees and bushes, and disappeared from view.

CHAPTER IV.

A FRUITLESS SEARCH

“Hello, Pepper!”

“How are you, Fred?”

“My, here’s the old bunch back again!”

“Well, Henry, did you have a good time during the summer?”

“How about that trip out West, Bob?  Did you kill any bears or Indians?”

“Getting high-toned, hiring a carriage to bring you.”

So the cries rang out, as the three-seated carriage driven by Amos Darrison rolled up to the front of Putnam Hall.  A crowd of cadets had rushed forward to greet the newcomers.

“Where is Andy Snow?” asked Pepper, as he leaped to the ground.

“He went past on horseback like a streak!” cried Bob Grenwood.  “Some of the fellows just went off to tell Captain Putnam about it.  What did it mean?”

“Tell you later, Bob.  Just now somebody had better go after Andy.  That horse was running away with him.”

A hubbub arose, in the midst of which Captain Putnam, the owner of the school, appeared.  He was a fine-looking gentleman, with a face that was at once kindly and firm.

“What is this I hear about Andrew Snow?” he said anxiously.  “A horse ran away with him?”

In as few words as possible Pepper and some of the others related the particulars of what had happened to the carryall.  Just as they were finishing, Peleg Snuggers came up on the other horse.

“This is very unfortunate!” murmured Captain Putnam.  “We’ll have to follow poor Snow at once.  Mr. Darrison, will you drive me?”

“Why—­er—­yes, but it will take time, Captain Putnam, an’ my wife wants me to——­”

“I’ll pay you for your time, sir,” interrupted the owner of the school quickly.

“Yes, sir? all right, sir.  Jump in an’ we’ll go right after the runaway.”

“Can I go along?” asked Pepper.

“I’d like to go, too,” came from Stuffer Singleton.