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Necessarily this has given rise to rivalries and sometimes inadequate preparation, though it has stimulated a vital and intelligent interest in the drama as an actual form of artistic expression. One of the greatest needs these student actors and their Faculty directors experience, is a university theater which will, in effect, be an actual dramatic workshop.

Stephenson accordingly announced to the directors of the railway that he was prepared to carry out a bridge of this general description, and they adopted his views, though not without considerable misgivings.

But we are absolute masters of the situation, and we are fair enough to buy Ward Valley on a rising market. Not that we are philanthropists, but that we need the investors in our big development scheme. Nor do we lose directly by the transaction. The instant the action of the directors becomes known, Ward Valley will rush heavenward.

A board of directors is named in the incorporation papers and this board, through a paid manager, will transact the society's business. Model by-laws, upon which the by-laws controlling the organization may be based, may be obtained from the State Department of Farms and Markets or from the Cooperative League of America.

You will also be gratified to learn that the directors have voted unanimously in favour of a special presentation to the Rev. Uttermust Dumfarthing on the occasion of his approaching marriage. It was earnestly debated whether this gift should take the form, as at first suggested, of a cash presentation, or as afterwards suggested, of a written testimonial in the form of an address.

Charles Grant had in 1787 written from Malda to Charles Simeon and Wilberforce for eight missionaries, but not one Church of England clergyman could be found to go. Thirty years after, when chairman of the Court of Directors and father of Lord Glenelg and Sir Robert Grant, he wrote: "I had formed the design of a mission to Bengal: Providence reserved that honour for the Baptists."

"You're devilish scrupulous, Gus," said Bob, who, if left to himself, would have stuck in the names of the heathen gods and goddesses, or borrowed his directors from the Ossianic chronicles, rather than have delayed the prospectus. "Where the mischief are we to find the men? I can think of no others likely to go the whole hog; can you?"

Wintermuth, silent and noncommittal, had returned to the office, but took little part in the conduct of his company's underwriting affairs. And in this manner March wore itself almost out and it seemed as though the Guardian's span of life were growing rapidly shorter. On the last day of the month there was a meeting of the directors in the closed room off the President's own.

"We've never seen anything quite like this in any part of the world," volunteered Weatherby, "and it is a remarkable thing for any one man to have imagined and accomplished. Whether or not we take the matter up, it will always seem a catastrophe that your work and the work of your directors should have been interrupted by a speculator.

Today we can see that the financial situation, the cotton situation, the relations with Europe, the problem of equipping the armies, were all to a considerable degree beyond the control of the Confederate Government. If there is anything to be added to its mistaken secrecy as a definite cause of irritation, it must be found in the general tone given to its actions by its chief directors.