It was supposed that every one knew where this dangerous spot was, so no sign had been placed there.
Now, however, two girls had ventured upon it, and broken through.
"Who are they ?" "Inza Burrage and May Blossom!" "Save them! save them!" Several started toward the imperiled girls, but two forms darted out ahead of the rest, and another race between Paul Rains and Frank Merriwell had begun.
This time it was a race for life.
Shoulder to shoulder they started, and, for some seconds, they kept thus.
Then Frank began to forge ahead, for all that Paul was straining every muscle--was doing the very best that he could to save life.
The girls were seen clinging to the broken edge of the ice, which broke beneath them once or twice, but they managed to keep up in some way.
Wider and wider grew the distance between Merriwell and Rains, showing that the former was by far the faster skater in such a case as this.
As Frank drew near the girls, the ice broke again, and both went under.
He did not slacken speed, but, taking care to avoid them, skated straight into the water.
Clinging to each other, the girls came up; but they would have sunk again immediately if he had not been there to clutch them.
Treading water, he held them up, getting close to the ragged edge of the ice.
The water was fearfully cold, but he managed to keep his head out, knowing aid must come quickly.
Paul Rains slackened his speed as he came near the opening in the ice.
"Form a line--get hold of my feet!" he shouted.
Down upon his stomach he went, and he slid forward till he could reach out and grasp one of the girls.
There he lay till another lad clutched his feet, and still others grasped the feet of the one who had hold of Paul.
"Now, Merriwell," said Paul, "if you can break their clutch on each other, we can take 'em out one at a time." With some difficulty the grasp of the half-drowned girls was broken.
Paul held fast to one, and shouted: "Pull away!" He was drawn backward, and the girl was dragged from the water upon the ice.
Quickly she was passed to some one who carried her away to a place of warmth and safety, while Paul Rains crept back to the opening, and the other girl was rescued in a similar manner.

Then Frank, nearly exhausted, was drawn out.
With Rains on one side, and Hodge on the other, Frank skated back to the shore, where the great crowd of spectators had witnessed the gallant rescue.

How the crowd cheered and flung up their hats! "Hurrah for Frank Merriwell!" was the roar that went up.

"Hurrah!" "Hurrah for Paul Rains! Hurrah!" The man who had offered the badge of honor grasped the two lads by the hands, crying: "You shall both have a badge of honor! This is true heroism, and you are both heroic lads!" "Hurrah! hurrah! hurrah!" thundered the crowd.
Let us add here that neither Inza nor May suffered any particularly ill results from their plunge through the ice.
Between Inza and Frank the slight misunderstanding was easily adjusted, and May, in her innocent little heart, had never dreamed of "cutting out" her friend.

She and Paul Rains afterward became very friendly.
Between Frank and Paul a rivalry continued to exist; but, for the most part, it was of a healthy, generous sort, and Merriwell retained his position as leader, having become more popular than before among the better class of boys at the academy..