teacher came to take the place of the man who had
left, and he proved popular all around, and made Doctor Clay wonder
why he had not made a change long before.

With their minds free from worry, Dave and his chums buckled down to
their lessons, and our hero spent much time over his paper on "The
Future of Our Country." Soon the examinations started, and then the
boys fell to worrying over how they would fare in this final test.

"Well, I hope I pass," remarked Phil, when the last examination was
over. "I don't expect to be near the top. I lost too much, going to
Cave Island, and when I ran away."

"Me for the passing mark, too," chimed in Ben.

"Well, I am hoping for something better," said Roger.

"What about you, Dave?" queried Buster.

"I am like Roger, hoping for something better," answered our hero,
with a smile. "But I'm prepared to take what comes," he added.

At last came the day when the announcements were to be made. Dave had
sent in his theme and he expected to hear from this as well as from
his studies. In the meantime, preparations were going forward for the
graduation exercises, and visitors were expected from far and near.
Nearly all the folks from Crumville were coming, and also the parents
of Phil, Roger, and the other seniors.

The big assembly room was crowded when the announcements were made.
The passing mark was seventy-five per cent., and many of the boys
dreaded to think that they might be below that.

"I will read the names in the order of merit," said Doctor Clay, after
the opening exercises. "Only two boys have failed to pass for
graduation, and they will be conditioned, if they so desire. I am
proud of the record." And then the master of the school proceeded to
read the list. Polly Vane and Dave had each ninety-six per cent.,
Roger had ninety-four, Shadow ninety, Sam and Luke each eighty-eight,
Phil eighty-seven, Gus eighty-six, and so on down to Buster, who
squeezed through with seventy-eight. The boys who had failed to pass
were Nat Poole, who had only sixty-eight, and one of his cronies, who
was marked sixty-nine.

"It ain't fair! I did as well as lots of 'em," said Nat, when the
reading was over. But nobody listened to him, for all knew that the
examinations had been just in every particular.

"I will now announce the prizes for the best themes on the subject,
'The Future of Our Country,'" went on Doctor Clay. "The reading of the
nine papers handed in has afforded me great pl