He drew from his pocket a note adorned with a large and elaborate seal, which Roswell, opening found read as follows:—

"MADISON CLUB.
"Mr. Roswell Crawford.

"Sir:—I have the honor of informing you that at the last regular meeting of the Madison Club you were unanimously elected a member.

"Yours respectfully,
"James Tracy."

This document Roswell read with much satisfaction. It sounded well to say that he was a member of the Madison Club, and his unanimous election could only be regarded as a high compliment.

"I will join," he said, pompously. "When is the next meeting?"

"Next Tuesday evening."

"Where does the society meet?"

"In a room on Fourth Avenue. You can come round early, and we will go together."

"All right. What do you do at the meetings?"

"Well, we smoke, and tell stories, and have a good time. Generally there are some eatables provided. However, you'll know all about it, when you join. Oh, by the way, there's one thing I forgot to tell you," added Ralph. "There's an initiation fee of five dollars."