The Phantom of Pine Hill

Nancy, George and Bess visit Ned at the fraternity. Nancy's necklace is stolen. They find out there's a strange phantom that has been robbing a house, and they are asked to stay long enough to find the villain. They are also interested in stories of a treasure from a ship that sunk on the river.

The story has a very obvious villain named Fred, who spies on Ned and Nancy. As in some other books, Nancy is in a boat that is almost rammed by another one, and she gets threatening notes. More things seem to be stolen from a house even though the items are kept in a room that is supposedly burglar-proof.

A good bit of investigating reveals the people involved in the thefts, how they somehow got into a room that no one was supposed to be able to get into, and they dig up more on he sunken boat.

A pretty standard adventure for Nancy.

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