"It will be great," admitted Bobby, with a sigh of longing. "I just hope your folks will let us go."

This hope was realized, as my readers may learn if they meet Bobby and Fred in the next volume of this series, entitled: "Bobby Blake at Bass Cove; Or, The Hunt for the Motor Boat Gem."

The four giggled, and whispered, and talked the matter over for another hour before they could close their eyes. The outlook for the summer vacation was first in their mind, too, when they awoke in the morning.

But this was an important day at Rockledge School. Even the expected pleasures of a summer at Bass Cove must be put temporarily in the background.

In the afternoon the graduating exercises were to be held—called at Rockledge "the commencement exercises." In the evening the boys entertained socially all their friends and relatives who could or would come to the school.

There was something else—something that loomed almost as big to some of them as the graduation of the seven head boys.

After breakfast the whole school filed up to the big hall. It was a serious occasion, and even Fred Martin was not "cutting up" this morning, and was one of those who most solemnly reached their seats.

All the teachers were sitting on the platform with Dr. Raymond. The old captain of the school, and the new captain, each stood at a door in the back of the room to see that nobody slipped out, and to collect ballots when the time came.

"Now, boys," said the good Doctor, rising and smiling at the fifty. "This is a serious occasion yet it is a happy one, too. It should be happy for you all, because your teachers have found among you at least one boy who is worthy of the high honor of receiving the medal," and he displayed the gold star as he had on that first day, nine months before.

"It is happy for us on the platform," and he made a little bow to the gentlemen with him, "because you have found one among you whom so many seem to admire. And we know what you admire him for.