o boy from the North Grammar had
appeared.

"You won't have to wait much longer," smiled Len. "It looks as
though the North Grammar boys were bluffing."

At ten minutes of five Dick and his chums rose to leave the "Blade"
office.

"Wait a minute," urged Len at the door. "I believe I see your
rivals coming now."

Hi Martin, Bill Rodgers and Courtney Page strolled rather indolently
up to the door and entered.

"You're late," said Len crisply. "If you boys go into a race,
I believe you'll be just as late at the finish."

"There wasn't any use in hurrying," grunted Eel. "There's lots
of the day left."

"Unless you regard an appointment as a gentlemen's agreement,
and to be kept," marked Len Spencer, rather severely. "I have
been giving up my time to this affair of yours, and my time is
worth something. But take seats. Have you boys any paper to
show that you represent your school?"

"Yes," admitted Hi, producing an envelope. "Our principal gives
us the proper authority."

Len read the note, nodding. "The Central Grammar boys have also
produced their authority to act, so now we can get down to the
details of the contest. The North Grammar boys are the challengers,
are they not?"

"Yes," claimed Hi.

"Then what sort of a swimming contest do you propose?" Len asked.

"Each school to appoint its best swimmer, and arrange a half-mile
race between the champions of the two schools," Hi answered promptly.
"The school whose champion wins is to be declared the champion
in swimming."

"We expected that," nodded Dick, "and we won't agree to it. If
this match is to be held for the school championship, then there
should be several boys entered from each school----say five, six
or seven from each school. Then the contest would really represent
the schools."

"But one boy would win, just the same, in any case," retorted
Martin. "What difference would it make?"

"The way that I propose," urged Dick, "no single boy could win
for his school. Suppose we enter seven boys from each school.
Then the school whose seven boys are in ahead of the seven boys
on the other side will win the contest. In other words, of the
fourteen swimmers, one is bound to come in last of all. The school
to which this last-in swimmer belongs is the school that loses
the match."

"Huh! I don't see anything in that idea," retorted Hi. "That,
perhaps, wouldn't mean anything at all for the school that happened
to have the one best swimmer of all."