I have undertaken to examine the short stories published in American magazines during 1914 and 1915 and to report upon my findings. As the most adequate means to this end, I have taken each short story by itself, and examined it impartially. I have done my best to surrender myself to the writer's point of view, and granting his choice of material and interpretation of it in terms of life, have sought to test it by the double standard of substance and form. Substance is something achieved by the artist in every act of creation, rather than something already present, and accordingly a fact or group of facts in a story only obtain substantial embodiment when the artist's power of compelling imaginative persuasion transforms them into a living truth. I assume that such a living truth is the artist's essential object. The first test of a short story, therefore, in any qualitative analysis is to report upon how vitally compelling the writer makes his selected facts or incidents. This test may be known as the test of substance. But a second test is necessary in this qualitative analysis if a story is to take high rank above other stories. The test of substance is the most vital test, to be sure, and if a story survives it, it has imaginative life. The true artist, however, will seek to shape this living substance into the most beautiful and satisfying form, by skilful selection and arrangement of his material, and by the most direct and appealing presentation of it in portrayal and characterization. The short stories which I have examined in this study have fallen naturally into four groups. The first group consists of those stories which fail, in my opinion, to survive either the test of substance or the test of form. These stories are listed in the year-book without comment or a qualifying asterisk. The second group consists of those stories which may fairly claim to survive either the test of substance or the test of form. Each of these stories may claim to possess either distinction of technique alone, or more frequently, I am glad to say, a persuasive sense of life in them to which a reader responds with some part of his own experience. Stories included in this group are indicated in the year-book index by a single asterisk prefixed to the title. The third group, which is composed of stories of still greater distinction, includes such narratives as may lay convincing claim to a second reading, because each of them has survived both tests, the test of substance and the test of form. Stories included in this group are indicated in the year-book index by two asterisks prefixed to the title.