sum to their fund.

This was their final effort at money-making, for about this time a letter was received from Mr. Burgess stating that he found it necessary to dispose of his stock of bicycles at once, and asking if the Rangers were not ready to relieve him of them. So the meeting called by Captain Will Rogers, to be held in Range Hall, as the boys termed Pop Miller's house, was for the purpose of learning the amount of the fund and deciding upon its disposal. The speculations as to its size, and what it would purchase, were as numerous as there were members, and as diverse as were the characters of the boys. Little Cal Moody hoped it might reach the magnificent sum of one hundred dollars; while "Cracker" Bob Jones thought one thousand dollars would more nearly represent the amount obtained. "That's what we've got to have," he argued, "for there are ten members without wheels, not counting what I owe Reddy Cuddeback on mine, and I don't believe even Mr. Burgess can afford to sell such beauties as those we rode last fall for less than a hundred apiece. So there you are; and if we haven't got a thousand dollars, some of us will have to go without wheels, or else only own 'em on shares."

This statement from so eminent an authority caused considerable uneasiness among the other boys, and they almost held their breath with anxiety as Mr. Pop Miller wiped his spectacles, and, producing a small blue bank-book, prepared to make the important announcement.

"Mr. President and fellow-members of the most honorable body of Ready Rangers," began the little old gentleman, beaming upon the expectant faces about him. "It is with gratified pride and sincere pleasure that I contemplate the wonderful success now crowning your tireless efforts of the past winter. I must confess that both your perseverance and the result accomplished have exceeded my expectations, and I congratulate you accordingly. As treasurer of the Rangers' bicycle fund, I have the honor to announce that, with all expenses for entertainments, etc., deducted, there is now on deposit in the First National Bank of Berks, and subject to your order, the very creditable sum of three hundred and eighty-five dollars and twelve cents. All of which is respectfully submitted by

"P. Miller, Treasurer."

"Hooray!" shouted little Cal Moody, forgetting his surroundings in the excitement of what he regarded as the vastness of this sum. As no one else echoed his shout, he blushed, looked very sheepish, and wished he had kept his mouth shut.

The Rangers had done well, remarkably well, as any one must acknowledge who has tried to raise money under similar conditions; but in view of "Cracker" Bob's recent statement, most of them felt that their great undertaking had resulted in what was almost equivalent to failure, and were correspondingly cast down.

"It is too bad!" exclaimed Sam Ray, breaking a gloomy silence. "Of course we've got to pay the thirty-five dollars that Bob still owes Reddy, for that is promised, and, besides, I'm certain that 'Cracker' has earned more than that amount himself. After that is done, though, we shall have only three hundred and fifty dollars left, which isn't more than enough to purchase three and a half or four machines at the most, and that will leave six of us with nothing to show for our winter's work."

"I move," said Mif Bowers, who having been a performer in Blue Billows, was fully persuaded that he was cut out for a sailor, "that we don't buy wheels at all, but put our money into a yacht, and go on a cruise down the Sound this summer."

"Second the motion!" cried Alec Cruger, who, having acted the part of Bill Bullseye, was equally anxious to put his recently acquired nautical knowledge to practical use.

"The motion is not in order," announced Will Rogers, firmly. "This money was raised for an especial purpose; and, whether it is much or little, it must be devoted to that purpose."

"That's so," agreed Sam Ray, who wanted a bicycle more than anything else in the world, "and I move that the money be sent to Mr. Burgess, with the request that he return just as many wheels as it will buy. We can take turns at riding them, and work all through long vacation for money to get the rest."

"Second the motion!" cried Si Carew.

"All in favor of Sam Ray's motion say 'aye.'"

"Aye!" responded half a dozen voices, though not very enthusiastically, for most of the boys were greatly disappointed, and did not relish the prospect of several months more of hard work for an object they had believed already attained. Still no one voted against the motion, and so it was pronounced carried.

"If we had got the machines I was going to suggest a grand parade in celebration of our birthday," said Hal Bacon, after the meeting had broken up; "but now I suppose it's no use."

So the three hundred and fifty dollars was forwarded to Mr. Burgess, together with a note from the Captain of the Rangers, stating all the circumstances, and hoping that the owner of the coveted wheels would sell just as many for the sum enclosed as he could possibly afford.

An answer to this momentous communication was awaited with such deep anxiety, that during the next few days the Rangers fairly haunted the railway station as though expecting to see their longed-for bicycles come rolling, of their own accord, up the track.

CHAPTER II.

A NOTABLE ARRIVAL IN BERKS.

"Hi-Ho! Hi-ho!" The well-known call of the Rangers summoning them to immediate assembly at the engine-house rang out, clear and shrill up and down the quiet village street. It was early morning, the sun was just rising, and though there was already much activity in kitchen and barn-yard, the long elm-shaded and grass-bordered thoroughfare was almost as deserted as at midnight. Still there was one team in sight, and one boy. The former was that belonging to Squire Bacon; and, driven by Evert Bangs, it was coming from the direction of the railway station, where it had been to deliver, for the early morning train, the very last russet apples that would be shipped from Berks that year. The boy was little Cal Moody, who was earning twenty-five cents a week towards his bicycle by driving a neighbor's cow to and from pasture every morning and evening. He had just completed his task for that morning, and was on his way home when he noticed the approaching team.

It does not take much to arouse curiosity in a quiet little place like Berks, and the boy's attention was instantly attracted to the fact that Squire Bacon's wagon bore a very queer-looking load. As it passed through occasional level shafts of sunlight that were darting between the trees it seemed to be full of flashes and bright gleamings. What could it be? Cal stopped to find out.

The nearer it approached the more he was puzzled, and it was not until the team was actually passing him, when the good-natured driver sang out: "Here they are, Cal! Came at last on the night freight, and I thought I might as well bring 'em along up," that the mystery was solved.

With a great tingling wave of joyful excitement sweeping over him, Cal knew that Squire Bacon's wagon held a load of bicycles in crates, and that they were being taken to the engine-house on the village green. He tried to give a shout of delight, but at first could only gasp without uttering a sound. Then, as he recovered his voice, the Ranger rallying cry of "Hi-ho! Hi-ho!" rang shrilly out on the morning air with a distinctness that instantly roused the sleepy village into full activity. The meaning of the cry was well understood by this time, and believing that it now indicated the breaking out of a fire, every one within hearing instantly repeated it, at the same time running toward the place whence it first issued. So within two minutes the exciting cry was sounding from end to end of the village, and even far beyond its limits. Sam Ray