"Oh, girls! I've got the most exciting thing to tell you!"

"Don't tell us of any other big robbery," sighed Nellie Agnew. "We've heard nothing but robbery at our house ever since Stresch & Potter were broken into. And poor Billy Long!"

"Humph!" muttered Hester Grimes. "I hope they catch him and that he gets all that is coming to him. He always was a mean little brat!"

"Not at all!" cried one of the seniors. "Billy Long never did a mean thing in his life. But he is full of mischief."

"He'll get it, I fancy if the police catch him," laughed Lily Pendleton, unpleasantly.

"Order!" said Laura, gravely. "I did not introduce my subject in a very proper way, I know; but the trouble of Billy Long is far from our business to-night. As chairman of your committee I have received a communication which originally came from the Luna Boat Club. That is the wealthiest boat club on the lake, you know. They really have more to do with our Big Day than any other organization. And what do you think?"

"Why don't you get to it?" demanded Hester. "You're as slow as cold molasses running up a hill in January."

"Oh, give her a chance," admonished Jess, taking any criticism of her chum—but her own—in ill part.

"Well," said Laura, unruffled, "the secretary of the Luna Boat Club writes that the club as a whole is much interested in the trial of speed between the eight-oared shells of the several Girls' Highs and as a trophy for that particular race will present to the winner a silver cup—and you can just bet, girls, if it is anything the Luna Club presents, it will be a handsome one. Isn't that fine?"

"Oh, if we could only win it!" cried Jess, clasping her hands.