As the joyful epoch of Christmas approaches, marking the close of another half-year, we feel how valuable is that time which the best of us are only inclined to regard too lightly. Yet I hope it will be found that I have not wholly wasted the share of it bestowed on me, but have used it to the best of my power and abilities. When you witness the progress made in each branch of my various studies, to which I have earnestly and assiduously devoted my days and hours, I trust that you will find cause to deem I have been no thoughtless pupil, but have done my best to merit your favour and the approbation of my masters. In Greek especially--which Dr. Keen saw fit to promote me to at Midsummer--I flatter myself you will be satisfied with my advancement: it is a delightful study.

"Deeply sensible of the inestimable value of the talents entrusted to me, anxious that not one of them should lie fallow through fault of mine, it has been my constant and earnest endeavour to improve them, so that they may be turned to profitable use in the after-business of life. By industry, by perseverance, and by unflagging attention I have striven to progress, and I may say that it is with regret I part with my beloved studies, even for a temporary period.

"I am desired to present Dr. Keen's compliments to you and my uncle, and to convey to you the intelligence that our winter recess will commence on the 16th of this month, on which day I and Leopold shall hope to return to Hallingham, and to meet you in good health. Leopold regrets sensibly that he will not be able this year to write you his vacation letter: it is a great disappointment to him. He has had a fester on the thumb of his right hand; it is getting better, but still painful. He begs to offer his affectionate duty to yourself, my uncle, Sara, and Mrs. Cray. And trusting you will accept the same from me,

"I am, my dear Aunt,

"Your most sincere and respectful Nephew,

"Richard John Davenal.

"Miss Davenal."

A smile stole across Sara's features at the wording of the letter, so unlike Dick, and she turned over the envelope.

"Yes, 'Miss Sara Davenal!' Dick has made a mistake in the address. It is written to you, Aunt Bettina?"

But Miss Bettina's eyes were glued to her own letter, which she hell open before her. Her lips had drawn themselves in ominously.