But when it came to the race in which Polly was to compete, they followed the event with closest attention. Polly was a fair swimmer, and she did her best evenly and seriously. She came in third, and finished with no other feeling than the one resolve that she would do better the next year.

Fred found it harder to take his defeat at the hands of Joe Anderson. If it had been any one else, he later told the others, he would not have minded. It must be confessed that Joe made the most of his opportunity to display his five dollar gold piece and he would brag a little more than was becoming to the victor, but Fred set his teeth, congratulated him, admired the prize, and set about encouraging Jess and Margy and Artie.

"Fred always expects to win," Carrie Pepper remarked in his hearing. "I guess he was surprised to find he can't come out ahead every time."

Carrie herself frankly said that she didn't mind losing as long as Polly Marley had also lost. If there was one thing, declared Carrie, she could not stand, it was to have the Riddle Club win any more prizes.

"Even if Albert loses, we're ahead," she told Joe gleefully. "You have five dollars and they haven't anything."

Carrie felt that Joe was upholding the honor of the Conundrum Club, despite the fact that he announced loudly he meant to spend his prize for himself.

The last events always attracted more attention and interest than the more serious races. When the novices started off, they were loudly cheered and the way they floundered and puffed and tried to run—at least Margy did—through the water, moved the "gallery" to loud laughter.

Margy, in her own way, was as determined as Artie, and, to gain her end, she simply shut her eyes and forged ahead. She galloped, she trod water, she pulled herself ahead with a sweeping motion. She sank, but she came up again, shook the water from her face and struck out blindly and doggedly.

"Go to it, little seal!" some one on the bank was roaring. "Go to it—you can make it. Just a little farther! Jump, little seal, jump!"

Margy had no idea the man was shouting to her, but she took the advice in good faith. Gathering the last ounce of energy she gave one tremendous hop forward—and came in first, the shouts of the audience ringing in her ears.