"I haven't decided yet," replied Carle, negligently.

"Aren't they rather a rich set?" asked Rob, as he ran over the list of several who were reputed to be members. He had picked up a good deal of information during his first term about many things which did not immediately concern him.

"Most of 'em have money, but they don't insist that every one else should."

"I should think that it would be hard all the same," returned Rob, thoughtfully. "You see, there'll be a lot of things these fellows do that you can't afford. You won't want to refuse if you're with them, and you can't stand the pace they set. That makes it awkward for you."

"Oh, they make a way for a fellow who hasn't much," Carle replied. "You see they like to get in fellows that are well known, specially the athletic men. It's to their interest to sacrifice something, if they want the important fellows."

"I'm thinking of you, not of the fraternity," said Owen, resisting another attack of jealousy. It grated on him to hear Carle speak so confidently of his assured athletic position. "It'll be harder for you to study and keep your place in the class, if you're going with those fellows all the time; and then there'll be a temptation to spend more than you can afford."

At this argument, which was certainly worthy of consideration, Carle's face clouded and he burst out savagely: "It's mighty mean to be always kept tied down to figuring on pennies, and have to slave to get a scholarship, when other fellows who haven't anything to make them popular can throw money around and loaf, and float along on the top wave. It isn't right!"

Rob looked at him in surprise. "You don't have to spend money to be popular. There's Laughlin; he hasn't a cent that he doesn't earn, and fellows like Poole and Lindsay and Cutting don't make any show of money if they have it. And who thinks anything of Bowers with all his dough?"

"They have all they need, at least," returned Carle, "and I haven't. Laughlin's different, but there aren't many like him. All I say is that it's mighty tough to send a fellow to school, and not give him money enough to keep him there decently."