were the lords and masters of Grandcourt. They strutted about with the airs of proprietors, and Railsford began to grow half uneasy lest any of them should detect him at the window and demand what right he had there.

The scene grew more and more lively. A new cavalcade discharged its contents on the heels of the first, and upon them came cabs top-heavy with luggage, and a stampede of pedestrians who had quitted the omnibuses a mile from home and run in, and one or two on tricycles, and one hero in great state on horseback. Cheers, sometimes yells, greeted each arrival; and when presently there lumbered up some staid old four-wheeler with a luckless new boy on board, the demonstration became most imposing.

“See you to-morrow!” thought Railsford to himself, as he peered down. Suddenly an unwonted excitement manifested itself. This was occasioned by an impromptu race between two omnibuses and a hansom cab, which, having been all temporarily deserted by their rightful Jehus, had been boarded by three amateur charioteers and set in motion. The hero in charge of the hansom cab generously gave his more heavily-weighted competitors a start of fifty yards; and, standing up in his perch, shook his reins defiantly and smacked his whip, to the infinite delight of everyone but the licenced gentleman who was the nominal proprietor of the vehicle. Of the omnibuses, one got speedily into difficulties, owing to the charioteer getting the reins a trifle mixed and thereby spinning his vehicle round in a semicircle, and bringing it up finally in the middle of the lawn, where he abruptly vacated his post and retired into private life.

The other omnibuses had a more glorious career. The horses were spirited, and entered into the fun of the thing almost as much as their driver. Railsford long remembered the picture which this youthful hero presented; with his face flushed, his head bare, his sandy hair waving in the breeze, his body laid back at an obtuse angle, as he tugged with both hands at the reins. The cab behind came on apace, its jaunty Jehu flourishing his whip and shouting loudly to his opponent to keep his right side. The crowd forgot everything else, and flocked across the grass with loud cheers for the champions.

“Wire in, hansom,” shouted some.

“Stick to it, Dig,” cried others.

How the mad career might have ended no one could tell; but at each corner the cab closed in ominously with its clumsy competitor, whose horses were fast getting beyond the control of their driver, while the vehicle they were dragging rocked and yawed behind them like a tug in a gale. Railsford was meditating a descent on to the scene, with a view to prevent a catastrophe, if possible, when a shout of laughter greeted the appearance on the scene of the lawful master of the omnibus, in headlong pursuit of his property. By an adroit cut across the grass this outraged gentleman succeeded in overtaking the vehicle and boarding it by the step behind; and then, amid delighted shouts of “Whip behind, Dig!” the spectators watched the owner skip up the steps and along the top, just as “Dig,” having received timely warning of his peril, dropped the reins and skipped the contrary way along the top and down the back stairs, depositing himself neatly on terra firma, where, with admirable sang-froid, he joined the spectators and triumphed in the final pulling up of the omnibus, and the consequent abandonment of the race by the indignant hero of the hansom cab, who protested in mock heroics that he was winning hand over hand, and would have licked the ’bus to fits if Dig hadn’t funked it.

In the altercation which ensued the company generally took no part, and returned, braced up and fortified by their few minutes’ sport, to the serious business of identifying and extricating their luggage from the general mêlée, and conveying themselves and their belongings into winter quarters.

The new master was impressed by what he had seen—not altogether unfavourably. True, it upset in a moment all his dreams of carrying Grandcourt by the quiet magic of his own influence to the high level he had arranged for it. Still, the race had been a pretty one while it lasted, and both competitors had handled the ribbons well. They would be the sort of boys to take to him—an old ’Varsity Blue; and he would meet them half-way. Railsford’s house should get a name for pluck and esprit de corps; and Railsford and his boys should show the way to Grandcourt! How Dr Ponsford and the “session of masters” would follow their lead it did not at present enter into the head of the vain young man to settle.

A knock came at his door as he stood lost in these pleasing reflections, and Grover entered.

“Here you are, then, old man,” said he—“an old stager already. It was a great disappointment I could not be here when you got down.”

“I wish you had. I have had not exactly a gay time of it.”

And he related his experiences. Grover laughed.

“That’s Ponsford all over,” said he. “He’s a fine fellow, but a bear. How do you like your quarters?”

“I’ve only just got into them, and really haven’t had time to look round. And, to tell the truth, for the last ten minutes or so I’ve been so interested in the scene below that I had forgotten what I was doing. There was a most amusing chariot race between a cab and an omnibus.”

Grover looked serious.

“I know,” said he. “I’m afraid there will be trouble about that. It’s as well, perhaps, you are not expected to know the chief offenders. One or two of them belong to your house.”

Railsford looked uncomfortable. It had not occurred to him till now that the proceeding which had so moved his interest and amusement was a breach of discipline.

“I hope I shall not be called upon to deal with it,” said he.

“No. I hear Ponsford has the matter in hand himself.”

And the friends went on to talk of other matters.

After a while Grover hastened away to his own house, leaving Railsford somewhat uneasy in his mind.

If Dr Ponsford were to question him on the subject of the chariot race, he felt that he would be seriously compromised at the outset of his career. He knew at least the nickname of one of the delinquents; and had actually, by standing and watching the contest without protest, been an accessory to the offence. He busied himself forthwith in his unpacking, and studiously avoided the window until daylight departed, and the court below became silent and deserted.

Just about four o’clock another knock sounded at his door, and Arthur Herapath presented himself, leading by the arm the tawny-haired hero of the chariot race.

“What cheer, Marky?” cried the brother-in-law to be. “Here we are. Had a spiffing spin up from the station, hadn’t we, Dig? This it Dig, you know, Sir Digby Oakshott, Baronet, M.P., A.S.S., and nobody knows what else. He and I have bagged Sykes’ old room, just over here.”

Railsford in his shirt-sleeves, and hemmed round by his luggage, looked up rather blankly at this friendly oration. However, his dignity came to his rescue.

“How are you both? I hope we’re to have a good steady term, my boys. Go to your study now—later on we must have a talk.”

Arthur looked at his friend and winked; Sir Digby was visibly agitated, and grinned vehemently at a cobweb in the corner of the ceiling.

“All serene,” said the former. “By the way, Daisy was all right when I left her, and sent her love and a—”

“Do you hear me, Arthur? Go to your study.”

“Oh, all right—but there was a message from the gov. I was to be sure and give you directly I saw you. He says I can have a bob a week pocket-money, and you’re to give it to me, and he’ll owe it to you at the end of the term. I’d like the first now,