e regulations by
demanding "tick," and wanting to make bargains. But they were promptly
met by a _non possumus_ from the directors present, and finally brought
to reason by being referred to Mr Stratton.

The day passed without the necessity of any appeal to the president. An
anxious consultation was, however, held in his room after closing time.
Naturally, owing to the exceptional rush, the accounts were a little
out, but as they happened to be on the right side this was a matter for
congratulation rather than distress. Nearly two pounds had been taken,
and the stock left on hand was valued at five shillings, so that
actually it was possible to repay half of the thirty shillings lent,
after the very first day. Mr Stratton, however, advised that only ten
shillings should be repaid this time, and the other five shillings put
into a reserve fund, in case of need.

"Of course, you can't expect to do as big a business as this every day,"
said he. "It will settle down to a regular jog-trot in a few days, and
then we shall be able to judge much better how we stand. I shall be
very well satisfied if we make about five shillings clear a day."

"I think you boys have started very well," began the treasurer, but her
husband held up his finger admonishingly.

"I should have been very disappointed with them if they had not," said
he. "It's easy enough to start, the thing will be to keep it up."

"Remember," he added, "it will be better not to brag out of doors about
our profits or that sort of thing. It will be time enough to talk about
that when we are able to hand over a good lump sum to the clubs. Now
it's time you went to preparation. Good night all."

"I tell you what," said Lickford to his fellow-shopman as they walked
across the Green, "we shall have to be pretty smart to-morrow if we're
to get to the club meeting."

"Why," said D'Arcy, "I thought none of you Modern cads were going to
show up?"

"We heard you'd all funked it," said Wally.

"I don't blame them," said Ashby; "they've not much to be proud of,
those Modern chaps."

"Never mind," said Fisher minor, "Fellsgarth can get on well enough
without them."

The party came to a halt and regarded one another seriously, and Percy
said--

"Whoever told you we weren't going to turn up, told crams. We're
coming. We'll see you don't have it all to yourselves, rather!"

"My eye, won't you get licked for it! Nice to belong to a house where
you mayn't