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 many-coloured blazers, all were hurrying towards the blue winding river which curves through the Oxford meadows.

Abercrombie Smith, with the intuition of an old oarsman, chose his position at the point where he knew that the struggle, if there were a struggle, would come. Far off he heard the hum which announced the start, the gathering roar of the approach, the thunder of running feet, and the shouts of the men in the boats beneath him. A spray of half-clad, deep-breathing runners shot past him, and craning over their shoulders, he saw Hastie pulling a steady thirty-six, while his opponent, with a jerky forty, was a good boat's length behind him. Smith gave a cheer for his friend, and pulling out his watch, was starting off again for his chambers, when he felt a touch upon his shoulder, and found that young Monkhouse Lee was beside him.

"I saw you there," he said, in a timid, deprecating way. "I wanted to speak to you, if you could spare me a half-hour. This cottage is mine. I share it with Harrington of King's. Come in and have a cup of tea."

"I must be back presently," said Smith. "I am hard on the grind at present. But I'll come in for a few minutes with pleasure. I wouldn't