"What do you mean?" whispered Broadhurst hoarsely.

"I can't say yet—only watch."

While Broadhurst and Kennedy hovered about the stall on one pretext or another, watching both Murchie and McGee as they directed the rubbers and others who were preparing for the race, I watched the trainer and the jockey minutely. They certainly did nothing, at least now, to excite suspicion. But might not the harm have already been done? Was it too late?

When the bell sounded the paddock call, McGee led the racer out of the stall and to the paddock. Presently the field, Lady Lee at the fore, walked past the grandstand and cantered slowly down the course to the starting-post.

Meanwhile, following Broadhurst, we had already made our way over to the club-house enclosure.

It was not like the old days when there was money everywhere, thousands of dollars in plain sight, in the cash-boxes of the bookmakers, when men rushed wildly about with handfuls of bills of large denomination and bets were made with frequent rapidity. And yet there was still a certain maelstrom of the betting-ring left; but the bookmakers had to carry everything in their heads instead of setting it down on paper. I knew the system, and knew that, in spite of the apparent ease with which it seemed possible to beat it, welshing was almost unheard of.

The grandstand was crowded, although it was quite a different crowd from that at race meets of former times and on other tracks. Belmore Park lay within motoring distance of the greatest aggregation of wealth and fashion in the country. It was a wonderful throng. The gay dresses of the women mingled kaleidoscopically with the more somber clothing of the men.

Every eye in that sea of moving humanity seemed to be riveted on Lady Lee and her rider. It was a pretty good example of how swiftly inside news at the race-track may become public property. Ill news, on this occasion, seemed to have traveled apace. Field-glasses were leveled at the horse which should have been the favorite, and one could tell, by the buzz of conversation, that this race was the great event of the season. As the jockeys maneuvered for position, one could almost feel that some wonderful feats of memory were being performed by the bookmakers. The odds, during the morning, had gradually lengthened against Lady Lee.

Like all thoroughbreds, Lady Lee had a most delicate organism, and the good rider, in such a case, was the one who understood his mount. McGee had, in the past at least, that reputation. He had reached pretty near the top of his profession by knowing how to deal with horses of all types. All this and more I had picked up from the gossip of the track.

The barrier was sprung and the flag dropped. They were off! The grandstand rose in a body.