This report considers some of the expectations, conventions, and strategies relied upon by Anglo children when they are participating in the speech event of storytelling, with particular focus on the children's interweaving of narrational and metanarrational speech. The data were obtained from white middle-class schoolchildren, aged six through nine years, who attended after-school day-care centers at two Austin, Texas, public elementary schools. The children in freely-chosen groups were tape-recorded while they were telling stories. The data were examined for information concerning their expectations and techniques for managing peer-group storytelling. It is generally understood that as intra-performance, metanarrative commentary, the interjections by the participants in the group call attention to various aspects of story-telling in progress, and are interwoven with the discourse of the story-telling itself. In this case, however, it seemed that the children frequently judged such interjections to be threatening to their presentations, or sometimes, as contextual information, and so not part of the narrative proper. The findings are discussed in relation to current discussion of child-discourse and folkloristics. (AMH)