“That’s the idea.”

“We can get four small boats for our money—­can’t we?” asked one of the boys.

“Frank thought we had better get different sized boats,” replied Tony.

“For different kinds of service,” added Joseph, demurely.

“Say, one eight-oar boat, one six-oar, and two four-oar,” said Tony.

“That would be first rate!  Then we could take in twenty-two fellows.”

“Twenty-three; the commodore would not be the coxswain of any boat, but command the whole.”

The boys grew so nervous and excited during this fine discussion, that they could hardly keep their seats.  In imagination the fleet was already afloat, and the broad pennant of Commodore Sedley was flying on board the Zephyr.

“How long before we can get the boats, Tony?” asked a little fellow, his eyes snapping with delight at the glorious anticipation.

“Perhaps they can be bought ready made.  We need not wait for new ones.  In a few weeks, at least before vacation——­ Hallo, Paul!  I am glad you have come.”

Little Paul looked very sad as he entered Butterfly Hall.  With a faint smile he received the greetings of his friends.

“All aboard!” shouted Tony, as he rose front his chair.  “You haven’t got your uniform on, Paul.”

“I can’t go with you, Tony,” replied Little Paul, in a gloomy tone.

“Not go with us!  Why not?  What is the matter?”

“I must leave the club too,” he added, in a husky voice.

“Leave the club!”

“We are going to move Down East.”

“That’s too bad!”

All the boys gathered round Little Paul, and there was a troubled look upon their countenances.

“We cannot stay here any longer,” continued the poor boy, as he dashed a tear from his eye.

It was evident to all that some misfortune had overtaken the Munroe family, and Little Paul’s sorrows excited the deepest interest and sympathy.

Without any solicitation on the part of his companions, the little fellow told them the story of his father’s trials, and the reason why he was compelled to leave Rippleton.

“When is the money due, Paul?” asked Tony.

“On the first of May.  My father has no money end he cannot pay the note.”

“How much did you say it was?”

“Five hundred dollars.  It is a great sum for us.”

“My father says ’Squire Chase is not any better than he ought to be,” added Dick Chester, who had returned with Little Paul.

“He is a very hard man,” replied Paul.  “But I must go home again.  I shall see you before I leave town;” and the poor fellow turned away to hide his tears.

“Poor Little Paul!” said Tony, when he had gone.

“How I pity him!” added Henry Brown.

“So do I,” reiterated Joseph Hooper.

“How much do you pity him, fellows?” asked Tony, seating himself in his arm-chair.