He uttered an exclamation of surprise when he saw the new boat.

"It is a little beauty!" he said. "It is far ahead of Conrad's or of mine."

"Conrad wants to exchange. He offered me ten dollars to boot."

"You wouldn't think of accepting?"

"No; it is worth much more than that. Besides, it is Mr. Gale's gift, and even if he had offered fifty dollars I should still refuse."

"And you would do right, too. But are you going to leave it out all night?"

"I shall have to. I have no boathouse to put it in."

"There is room in my boathouse for two boats," said Valentine. "I will help you put it inside."

"Thank you, Val. I will be glad to pay you rent for the use of the place."

"I don't want any money, Andy; I will do it out of friendship."