It had been coming to this for weeks past. Georgie had refused to believe it as long as he could. He had stuck to his chum, and borne all the rebuffs which had rewarded him, patiently. He had even made excuses for Dick, and tried to think that their friendship was as strong as ever.

But now he saw that all the time Dick had been falling away and cutting himself adrift. This was why he left the “Select Sociables” the moment Heathcote joined them. This was why he went to the levee as soon as he saw Heathcote was not going. And this was why he had hidden out of the way this morning, for fear Heathcote should find out where he was going, and want to come too.

Georgie laughed bitterly to himself, as he made the discovery. As if he cared for fishing, or boating, or sandwiches! As if he cared about being cooped up in a tarry boat the livelong day, with a couple of such fellows as Cresswell and Freckleton! As if he couldn’t enjoy himself alone or with Coote—poor young Coote, who had come to Templeton believing Dick to be his friend, whereas Dick, in his eagerness to toady to the “saints,” would let him go to the dogs, if it wasn’t that he, Heathcote, was there to befriend him.

So Heathcote went forth defiant, with Coote at his heels, resolved to let Templeton see he could enjoy himself without Dick.

He laughed extravagantly at nothing; he feigned to delight himself in the company of every idler he came across; he scorned loudly such stupid sport as fishing, or tennis, or fives.

He meant to make his mark. And then Dick, when he came back, would gnash his teeth with envy and wish woe to the hour when he was fool enough to desert his noblest friend!

“Tell you what’ll be a lark, Coote,” said Heathcote, as the two strode on, arm in arm, followed by a small crowd of juniors, who, seeing they were “on the swagger,” hoped to be in the sport as spectators. “Tell you what; we’ll have a walk round the roofs. I know where we can get up. We can get nearly all round the Quad. Won’t it be a spree?”

Coote looked as delighted as he could, and said he hoped they wouldn’t be caught, or there might be a row.

“Bless you, no one’s about to-day. Come on. Nobody’s done it since Fitch fell off a year ago, and he only got half round.”

Coote was inwardly most reluctant to deprive the late Master Fitch of his hard-earned laurels, and even hinted as much. But Heathcote was in no humour for paltering. He was playing a high game, and Coote must play, too.