In spite of the anxiety that pervaded the audience of the principal, this announcement was received with the most tremendous applause. The Prince, who was present with his wife and Miss Louise, felt called upon to make a speech, acknowledging the honor conferred upon him. He would rather have his name on the stern of a vessel used for the purpose to which the “Frisbone” was to be applied, than on that of the biggest ocean steamer that could bear it to the most remote regions of the earth. “The Frisbone will take the place of the Josephine and the Tritonia, after she has been properly fitted for the purpose. With the two steamers, which will not have to wait for any sailing-vessels, we may make a voyage around the world; for I intend to re-organize the squadron, on a much more extensive plan of study. But this will not be done till the end of the quarter upon which we have now begun. “The Frisbone will now be officered in the same manner as the schooner, with a captain, four lieutenants, and four masters. The office of purser and midshipman on board of the Prince will be abolished, so that there will be only nine cabin officers on board of each vessel. The two engineers of the Frisbone will be relieved from further duty in that department. The Prince will have forty-eight petty officers and seamen, and each of the other vessels thirty-six. Since the late Commodore Cantwell left the academy squadron, the office he held has not been filled, for the reason that those who came out the highest preferred the more active position of captain. We shall in future dispense with this ornamental figure-head. “In addition to the choice of offices, each student will be entitled to elect in which of the four vessels he will serve for the coming quarter, until the complements are complete. Some exchanges may be allowed in the end, for I am not disposed to separate friends unnecessarily; but all such must be on equal terms, and by agreement between those exchanged.” The principal paused to put on his glasses, and the students improved the opportunity to applaud the plan laid down. “The first name on the list is Sheridan,” continued Mr. Lowington; and the usual demonstration when popular officers obtained good positions was made. “Capt. Sheridan, I congratulate you on the high rank you have won; and you have the right to choose any position in the fleet.” “I prefer to remain where I am,” replied Sheridan. And Mr. Pelham made a record of his choice. “The next name is that of Thomas Speers,” said Mr. Lowington. The announcement seemed to create as much surprise as when the same name had been mentioned in the harbor of Gibraltar, two months before. But all the ship’s company of the Ville d’Angers manifested a tremendous enthusiasm. “Good boy, darlint!” screamed O’Hara, grasping Tom’s hand, and wringing it with hearty good-will. “That’s what all your hard study manes; and I rather you had this place than have it myself.”