Ray opened the envelope in wonder. A thick roll of bills fell out. “Why, Howard,” he exclaimed, “what does all this money mean?” “It means that I am determined you shall be repaid every cent I owe you as fast as I can earn it,” answered Howard. “There is my first payment, four hundred dollars, and I will pay you the rest as soon as possible. I haven’t had an easy moment until now――――” “But, Howard,” burst out Ray, “I didn’t intend you to worry so about it. I meant you to take your time――why, how on earth did you raise all this money?――excuse my question, but you know you said you were in straitened circumstances.” “I understand you,” answered Howard quietly, “but it is all right. I have earned it. I went to Professor Fuller for advice, and he suggested my tutoring some of the under classmen, and when I accepted the idea, he and Mr. Dykes secured me several pupils in the Sophomore and Freshman classes――fellows who were behind in their studies and needed coaching.” “Howard, you are doing splendidly,” said Ray warmly. “I understand your feelings, and I admire you for them. They are of the right sort.” “Then you are satisfied with your investment?” said Howard, with a slight smile. “Indeed I am,” said Ray. “I knew it was in you, and am delighted to see you doing so well.” “So am I, Howard,” I added, “and I have some good news for you.” He looked at me inquiringly. “The faculty met to-day, and the honormen were announced,” I continued. “Yes, yes, and who were they?” he asked, leaning forward eagerly, and breathing rapidly. “It is all right,” I said, seeking to relieve his anxiety at once; “you stand ninth in the class, and have an honorary oration.” Howard’s face flushed, his head dropped, and he leaned heavily for a few moments against the mantlepiece. “Why, Howard!” exclaimed Ray. “Is this true? I congratulate you, my dear fellow, with all my heart.” “It is true, Howard,” I continued, “for I got the information through Professor Fuller.” There was silence for a second, and then when Howard raised his face, I could see that his eyes were moist.