Ed was rapidly thinking of something that had happened to him that nigh.

“That’s what gets me,” replied Paul.  “Of course, these costume rigs are full of holes and corners.  A girl might have been dancing with me, and the ring may have slipped from her finger into my pocket.  Perhaps it was too large for her, being new.  But I did not notice that I danced with any one wearing it.”

“Still, it might have happened that way,” admitted Jack, “especially if she kept the stone turned in so no one, would see it.  That’s a trick they have.”

“At any rate, she is sure to come back here for it,” went on Paul, “and I wanted to save her any possible anxiety.  I hope it belongs to some real nice girl, and if it does, don’t forget to say that I found it.  And you might add that I would be glad to receive a small reward in the shape of permission to show the aforesaid pretty girl the sights around here in the auto I am soon to run.”

“All right,” laughed Jack.  “That would be some sort of reward.  But, as for myself, I must confess I would prefer a smile of gratitude.  Just fancy the girl receiving back her ring!  Won’t she flop over in a sheer state of collapse!”

“Have you looked inside the ring?” asked Ed.  “There might be a name or initials in it.”

“Never thought of it,” admitted Paul.  “Hazel, who was with me when I found it, made me hurry right back, and I didn’t get a chance.”

Jack lead the circlet, and holding it close to a drop-light, he peered closely at it.

“By Jove!” he exclaimed.  “There are initials!”

“Whose?” asked Ed.

“‘I.G.’  Whose are they?  ‘I.G.’  Why, of course. `I.G.’—­Ida Giles!  Whoever would have thought it?  Ida Giles with an engagement ring!”

“And why not?” queried Ed.  “Isn’t Ida the bright-red, dashing sort?  Lots of fellows would call her dashing, and, from what I have seen of her to-night, she certainly is bright.”

“Well, of all things!” exclaimed Jack, who seemed unable to get over it.  “And you’re on her side, eh, Ed?  Why, man, not a fellow in the whole of Chelton ever got through more than one dance with her—­except Sid Wilcox, and I can’t see why he sticks to her.”

“Then the Chelton fellows are slow,” commented Ed as he critically examined the ring.  “I think Ida is quite taking.”

“Was she here to-night?” asked Paul.

“She was invited,” replied Jack, “for I saw her name on one of the bids Cora sent out.  But I did not have the pleasure of a personal interview with her this evening, and so I can’t say whether she was here or not.”

“Well,” remarked Paul, moving toward the door, “I guess I’ll be leaving again.  Take care of the ring, Jack, and don’t forget to give the lady who calls for it my regards.  And say, Jack, please thank your sister for me for getting the order for that car for the Robinsons.  I’m going after it to-morrow morning—­no, I mean this morning.  It’s after three o’clock now.”