"Hooray!" shouted Chunky.

Ned fixed him with a stern eye.

"A president never should forget his dignity," he warned. "Mr. Perkins will now proceed."

"We all now have our ponies, except Tad Butler, and when we get ready to start we shall have nothing to do but go. Professor Zepplin is to accompany us. Father has bought him a big new cob horse. The professor was once an officer in the German army, and he knows how to ride—that is, the way they ride over there. He reminds me of a statue on horseback, when he's up. Anyhow, he will go along to see that we are taken care of."

"When do we go?" asked the president.

"As soon after your school closes as is possible."

"I am afraid our fathers and uncles will have something to say about that," said Chunky with a wry face. "Uncle never would let me go off like that. It's all very well for you, but with the rest of us it's different."

Walter smiled knowingly.

"That has all been taken care of, fellows. Tour fathers, as well as mine, know all about it."

"You don't mean it?" marveled Ned.