cause a flutter of amusement and inquiry to go through the waiting crowd at Ditton Corner, which brought a blush to the cheek of Betty Jermyn, who was generally to be found in a boat or on the bank, in a position from which she could see everything that was going on. She did not waste much time, however, on the contemplation of Mr. Binney, in his dark blue coat and speckled straw hat, for in the bows of the boat just in front of him, as they rowed down in reversed order, was a slim muscular figure whose eyes eagerly sought the crowded ranks of the onlookers as the crews rested for a minute on their oars before they went swinging round the bend to their stations. Betty was very proud of her lover then, for even her inexperienced eyes could see that the grace and ease with which he rowed were something to be admired, and poor little Mr. Binney sank still lower in her esteem as he gave the words of command "Get ready all! Forward all! Are you ready? Paddle!" which was the signal for his boat to move on. On the first night of the races there was no change in the position of the three head boats. Third Trinity drew up to First at Ditton Corner, but then fell away and finished at about their distance. First Trinity gained on the Hall, but never got within a length of them. Mr. Binney steered with great judgment, and was told that he could not have done better, but he was disappointed at not catching the head boat and a little alarmed at Third Trinity having come so close to them during the early part of the race. "They always bustle up like that at first," said Mirrilees, to whom he confided his tremors. "We shall keep away from them all right, and I hope we shall catch the Hall to-morrow." Mr. Binney was comforted, but on the next night Third not only got to within a length of them at Grassy Corner but hustled them right up the Long Reach and very nearly caught them at the railway bridge. This pursuit seemed, however, to have increased their own pace, for it drove them right on to Trinity Hall, whom they very nearly succeeded in bumping. All three boats passed the winning post overlapping, but if Mr. Binney had made a shot at the head boat he would almost certainly have missed it, and the boat behind would almost as certainly have run into them. He was warmly congratulated on his presence of mind by the Captain, but he went home to his rooms by no means at ease, for he now saw plainly that Third Trinity were just as likely to bump First as First Trinity were to catch Trinity Hall. He was as keenly anxious as any member of his crew to go head of the river, and he felt that not only to fail in that object but to be taken down a place instead would be more than he could bear.