And then, once more, he heard the skates of his rival ringing clear close at his elbow. One wild look he cast over his shoulder, and there was Merriwell, fearfully near—and gaining!

Paul's heart rose with a bursting sensation into his throat. He had seen that Merriwell's face bore a look of determination—nay, more, a look of confidence.

Oh, for the power to hold out to the end! Again he forced himself to spurt; but, as that mad burst of energy slackened, he felt, rather than saw, his rival reach his side.

Now a great cheer broke from the crowd of excited and delighted spectators, for the two boys were fairly abreast, and neither seemed able to gain another inch on the other.

Rains had shut his teeth, his nostrils were dilated, and his eyes wild in their sockets. The finish line was near, and he must cross it in advance—a yard, a foot, an inch!

But he little knew that Frank Merriwell had reserved for the last supreme moment enough strength to make a final spurt.

Now—now is the time for one or the other to forge ahead!

Another shout goes up:

"Merriwell! Merriwell! He's the winner! Hurrah!"

Frank had forged to the front; but, even as the cheer came from the crowd, he was seen to be flipped into the air, as if he had struck a spring-board, and he came down heavily on the ice. There was no time to recover.