CONCLUSION Christmas came and went, and soon after this the semi-annual examinations were on in earnest.

Some of the midshipmen failed and sadly turned their faces homeward to make a place for themselves in some other lane of life.

Dan Dalzell, however, made good his promise, and by a better margin than he had dared hope.

Dave came through the examination somewhat better than his chum.

Both felt assured now that they would round out the year with fair credit to themselves.
Marian Stevens came to Annapolis several times during the latter half of the year, and as it is expected that the future officer shall have social as well as Naval training, Dave Darrin met her often.
Exasperation that she could draw the young midshipman on only so far soon changed in Miss Stevens to anger and chagrin.