hem?"

"All right!" exclaimed Telson jumping up; "I'll fight you, young Cusack,
for that!"

Cusack was somewhat taken aback by this unexpected outbreak, but was
inclined, nevertheless, to accept the challenge. Parson, however,
interfered peremptorily.

"Look here," he said, "we're in quite enough row for one day, without
wanting any more. So shut up, you fellows, do you hear?"

"Make him apologise, then," said Telson, wrathfully.

"Oh, all serene. Nobody was hurting you," said Cusack.

"Do you apologise, or do you not?" demanded Telson.

"I didn't say I didn't, did I?"

This was as much as the irascible schoolhouse fag could expect, so he
sat down again.

"You know," said Pilbury, anxious to make things _quite_ pleasant again,
"a lot of the fellows say the schoolhouse would have won in any case."

"I'd like to know who says that," demanded Parson, whose turn it now was
to be angry.

"Oh, everybody in our house. They looked like winning, you know, from
the very start, didn't they, Pil?"

"Yes, a lot you and your friend Pil know about rowing," sneered Parson.

"Know as much as you do!"

"Pity if you know such a lot you can't put a boat on the river."

"I tell you what we'll do," said Cusack. "Pil and I will row any two of
your lot; there now. Funk it, eh?"

Parson looked hard at the speaker, and then glanced at Telson. Telson
glanced back at Parson, and then eyed the Welchers grimly.

"You'd promise fair play?" asked Parson.

"Of course we would; we always do."

"You'd _give_ us fair play, then?" demanded Parson.

"Yes, honour bright."

"All serene. Telson and I will row you; eh, Telson?"

"Rather!" said Telson, "and give them a start too."

"All very well, you fellows," said King, "but suppose we're all expelled
to-morrow."

This unpleasant suggestion took away most of the interest in the
proposed race, and it was decided to defer further arrangements till the
fate of the parties should be decided.

After this the party waited gloomily till seven o'clock came, and then,
in decidedly low spirits, rose in a body and repaired to Mr Parrett's
study.

Had they been aware of the actual state of that amiable athlete's mind
from the moment they last saw him, handkerchief in mouth, hurrying down
the passage, till now, their trepidation would have been considerably
relieved. The first thing Mr Parrett had done on regaining his room
after that "bad quarter of an hour" with his juniors was