"Glad you've turned up," he said. "I never feel really happy till both parties are in the Club. All serene?"

"As far as we're concerned," replied Tony.

Donaldson rubbed his hands. "That's good," he observed contentedly. "We'll have 'em in the ring by nine-thirty at latest. That'll just give us time to—Hullo! Look at that! Damned if Young Alf isn't chucking it."

One of the two contesting youths had suddenly stepped back and held out his hand to his opponent. He had just received a severe dig in the stomach, which had apparently convinced him for the moment that boxing was an unfriendly and over-rated amusement.

With a grunt of disgust at such pusillanimity Donaldson clambered up into the ring, and in a stentorian voice announced the name of the winner. He then introduced two more lithe-limbed active-looking lads, who promptly set about the task of punching each other's heads with refreshing accuracy and vigour.

It was about a quarter-past nine when this bout came to an end, and preparations were begun for the principal event. Two buckets of clean water were brought in, and a large cardboard box containing a couple of new pairs of boxing-gloves was deposited in the centre of the ring. Then, while a truculent looking gentleman in flannel trousers and a sweater strolled about crushing lumps of resin beneath his feet, Doggy Donaldson again hoisted himself into the roped square, and held up his hand for silence.

"Gentlemen," he said, "I have the pleasure to announce that the Committee has decided to match the winner of to-night's contest against Jack Rivers, the holder of the Lonsdale Welter Weight Belt."

The applause that greeted this statement had scarcely died away, when a louder and more enthusiastic outburst proclaimed the appearance of the boxers. They came on from different sides of the building each with a small army of seconds in attendance. Climbing up into opposite corners of the ring they bowed their acknowledgments to the audience, and then, after carefully rubbing their feet in the resin, seated themselves on the small stools that had been placed in readiness.

A number of lengthy preliminaries followed. The bandages that each man wore on his hands were gravely inspected by one of his rival's seconds, while another opened the cardboard box, and selected one of the two pairs of gloves for his principal. They were nice-looking gloves, but to the casual observer they would have appeared to be constructed more for the purpose of conforming to the law than of really deadening the effect of a blow. By dint of much pulling and straining, however, each boxer managed to get them on, and then sat with a dressing-gown over his shoulders while "Doggy" Donaldson made the inevitable introductions.

"Gentlemen! A twenty three-minute round contest between 'Lightning' Lopez of Livadia on my right, and 'Tiger' Bugg of Hampstead on my left. The bout will be refereed by Mr. 'Dick' Fisher."