"Of that I am not so sure," was the retort. "I do not accuse you--that would not be right. You have accused yourselves, after a fashion. What I think is this: I believe the bracelet was accidentally taken out of the cabinet in the confusion, and, perhaps, dropped on the way to Fenn's house. That is why I am sending for the police. Some person may have picked it up, and may be keeping it. I believe that is all now. You may return to your classes," and though he tried to speak calmly, there was a note of disappointment, not to say displeasure, in Mr. Long's voice.