"I'm so glad you won, Fred," declared the good woman. "You certainly worked hard for it. Ever since that Bart Montgomery acted so atrociously when you went down to see the football elevens off, I've hoped it wouldn't go to Alice."

"You must not blame her for Bart's actions," exclaimed Fred. "Alice is no more like the rest of the Montgomerys than I am."

"Which is some difference," chuckled Buttons. "Come on, Cotton-Top. Let's get back. Now, mother, don't forget—you're keeping a secret." And, with a merry laugh, the boys took their departure.

Exempt from the examinations because they had attained a daily average of ninety per cent. or better, the four young people were aware the notice of the Scholarship award would be placed on the bulletin-board early, and they timed their arrival at school the next morning so that Fred's success would be known first. But they had no idea of the manner of his greeting.

No sooner had one of his Form mates caught sight of Fred's yellow head, than he raised a shout, and in a flash all the students rushed out to meet him.

"Three cheers for old Cotton-Top!" yelled Soda, hugging his chum.

With a will, they were given, and then repeated.

"Speech! Speech!" shouted some one, as the tumult subsided.

Instantly the cry was taken up, the boys and girls chanting in rhythm:

"Speech! Speech! Speech!"