"Why, it's Link Merwell!" gasped Phil. "Merwell as sure as you're born!"

   "How did that rascal get here?" murmured Roger.

   "Who is it?" asked Bert, curiously.

   "That fellow who is on the couch with Haskers," whispered Dave. "He used to go to school with us at Oak Hall, and then he had to leave, and after that he and a fellow named Jasniff robbed Mr. Wadsworth's jewelry works."

   "Oh, yes, Roger told me about that. You fellows followed the rascals to Cave Island, didn't you?"

   "Yes, and we caught Jasniff, but Merwell got away."

   "Then why not have him locked up right now?" demanded Bert.

   "It's what we ought to do," declared Phil.

   "Haskers and Merwell must be in with each other," was Dave's comment. "Maybe Merwell is trying to sell some of that Sunset Company stock, too."

   "Wonder if we can't hear what they are saying?" said Roger. "It might help us to make out a case against them."

   "We can go around to that side window and listen," suggested Phil, and pointed to the window in question.

   This was quickly agreed upon, and the four boys left the hotel and walked out on a gravel path close to the window. As the day was warm, the window was wide open.

   "No, it was a frost!" they heard Job Haskers say, in harsh tones.

   "He wouldn't buy the stock?" queried Link Merwell.

   "Worse than that, Merwell. I was trapped, and I had all I could do to get away."

   "What do you mean?"

   "Do you know who was there, with that old man, when I went to see him?"

   "I have no idea."

   "Three of the boys you hate—Porter, Morr, and Lawrence."

   Merwell started back in consternation.

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