A comedown after Nutty for President (and Hughes' subsequent successes). Now that Nutty--fifth-grader Freddy Nutsell--is Student Council president, he's not doing too well. Anyone who didn't read the previous book will wonder, indeed, how former geuius-classmate William got him elected; while anyone who did will wonder what happened to newly elected president Nutty's new assertiveness and enterprise: until William solves the mystery of the missing Christmas Fund money here, Nutty doesn't know what's hitting him. (He also isn't following through on his promise to upgrade school lunches, can't begin to conduct a council meeting, etc.) Nutty foolishly put the money in his locker, and $80 was stolen; if word gets out, Nutty will be disgraced. So Nutty and buddies Bilbo, Orlando, and Richie call in all-wise William. Are the culprits--who are leaving enigmatic signs/clues--a losing sixth-grade candidate and his sidekick? the custodian, seen opening lockers? At William's lead, much repetitive sneaking into the closed school, hiding in washroom and closet, ensues--before William (of course) deduces that Bilbo originally took the money, to teach Nutty to be more careful. . . and the suspect sixth-graders prevented him from returning it. Hughes lets drop the thought that now Nutty will shape up--but this is a desultory outing, weak in the humor department too.