Then, seeing that Starbright hesitated, he continued, as if the information was all that was needed:

“Bill Higgins heads the subscription-list with fifty dollars, which he says he already owes for board, but which he is willing to stack up on Merriwell. Bart Hodge goes Higgins ten better. Browning has roused himself long enough and sufficiently to stop smoking and draw a check for a pretty little sum. Yours truly, the undersigned, is into it so deep that I’ll have to shave myself for the next five years or grow Pfeffer whiskers if we lose. And there are likewise others and some more. So, I thought——”

He took out a square of legal cap, on which the signatures of various students appeared, with figures set opposite their names. This he tossed to Starbright.

Dashleigh was going down into his pockets.

“Oh, I’m always strapped!” he grunted. “I’m spending my allowance faster than it comes to me. But if Starbright will lend me twenty-five, I’ll wager it.”

Starbright passed him the paper.

“Why, you’re bound to lose!”

Ready winked another owlish wink of wisdom.

“Milord, why sayest thou so?”

“Because, as you say yourself, Merriwell has declared that he won’t accept the challenge.”