Tony Graham, of the Sixth
form at St Austin's, narrowly defeats his cousin Allen Thomson, of Rugby, in boxing at the inter-school sports at Aldershot. Tony returns to St Austin's with Welch, another athlete. Tony's
fag Robinson excitedly tells them that a window pane was removed from the Pavilion, where the school sports trophies are temporarily being kept. Robinson thinks the trophies have been stolen. Tony later sees Jim Thomson, Allen's brother who attends St Austin's. Jim bet two pounds on Allen at Aldershot, with Allen betting against himself to hedge another bet. Jim now needs two pounds to pay Allen. Jim's father will pay Jim a pound for every race he wins at St Austin's. He has already won the half-mile and hopes to win the mile. Thanks to Robinson, news quickly spreads about the burglary. Only two trophies (for the quarter-mile and hundred-yard races) and a valueless flask were taken. Jim tells Tony that on the night of the burglary, he broke into the Pavilion because he had left notes there which he needed to study for an examination. At the time, he heard someone jump out through a different window. Jim now realizes he interrupted a burglary. He worries about what will happen if it is discovered that he was in the Pavilion at the time of the burglary. Dallas and Vaughan share a study with Plunkett, the patronizing head of their House. They tell MacArthur, a day-boy, how much they dislike Plunkett. Welch shares a study with Charteris, who runs an unofficial school magazine,
The Glow Worm. His identity as its editor is only known to the magazine's contributors: Welch, Tony, Jim, and Jackson. Charteris jokingly suggests that Welch, who is likely to win the missing trophies, stole them, but Welch says he does not compete solely for trophies (see
pothunter). Jackson says that two pounds were stolen from a blazer in the Pavilion. Another student, Barrett, trespasses on the land of Sir Alfred Venner to collect bird eggs. He discovers the stolen trophies in a poacher's hideout in a hollow tree. A groundskeeper chases Barrett away and comes across Plunkett, who also trespassed. Barrett runs into Roberts, a detective investigating the burglary. Barrett does not want to get caught trespassing and does not mention seeing the trophies. A schoolmaster, Mr Thompson, takes an interest in investigating the burglary. Roberts tells Thompson that the culprit was not a professional, since the window pane was not cut neatly. Furthermore, only someone connected with the school could have known the trophies were being kept there temporarily. Thompson later opens a letter addressed to "J. Thomson", mistaking the name as his own. The letter is from Allen telling Jim that he needs two pounds right away. After Jim is narrowly defeated in the mile race, Charteris proposes publishing a special issue of
The Glow Worm about the burglary and sports to earn the money Jim needs. The Headmaster and Mr Thompson accuse Jim of the burglary, though Jim denies it. After Sir Alfred complains about Plunkett smoking a pipe on his land, the Headmaster has Plunkett removed from the school, delighting Dallas and Vaughan. Jim goes with MacArthur to MacArthur's family's house nearby. Roberts tells the Headmaster that he has found the burglar. After a man named Stokes, who was drunk, bumped into Roberts and dropped nearly two pounds, Roberts showed a photograph of him to Biffen, the school ground-man. Biffen identified him as someone who worked on the school grounds. Stokes confessed that he took the trophies and hoped to sell them. He is a poacher and kept them in his hiding place. Roberts advises the Headmaster to ask Sir Alfred to search the hideout, and discourages him from prosecuting Stokes, since Stokes is now scared off crime. That night, Jim is not in his House. The Headmaster fears Jim ran away as a result of being accused of the burglary, and has Mr Merevale and other housemasters send their prefects to search for him. Charteris and Tony learn from Biffen that Jim went to MacArthur's home. They find and rescue Jim, who fell in a quarry on his way back. Barrett decides to admit that he saw the trophies, but changes his mind when he sees they have been returned and awarded to Welch. Charteris and his friends stay up late to finish the special issue of
The Glow Worm. It sells well, earning Jim his pound, though Jim forgot to write anything for the issue. ==Characters==