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This book is burned by Finny to create "the sacred fire of Olympus" thus opening the First Annual Devon Winter Carnival.
Finny says they can't begin the carnival without a sacred fire from Olympus. He pours hard cider on one of the prizes (the Iliad), lights it on fire and declares the games have officially begun. The Iliad is a Greek saga, which praises the heroes of the trojan war; the burning itself is a symbolic act; Finny burns the book in protest of the war they're involved it.
A Separate Peace