"What ails Black Bill? He's a swell favourite, he is! He ain't done a thing yet."

"He always runs that way," said the wise ones. "Wait till he hits the upper turn."

Abe Goldmark, standing on a stool on the lawn, wrinkled his brow in perplexity. "About time for that bird to quit," said he to himself. "He ain't got any license to run a mile with a leg like that!"

Jockey Moseby Jones was also beginning to wonder what ailed Black Bill. Grogan sat the favourite like a statue, apparently unmoved by the gap widening in front of him.

"We kin wait 'long as he kin, baby," said Mose, comfortingly, "but I sut'ny don't crave to see 'em otheh hawsses so far ahead!"

At the end of the mile Black Bill and Elisha were still at the end of the procession. Miss Amber had managed to shove her brown nose in front, with Regulator at her saddle girth. Many an anxious eye was turned on Black Bill; many saw his transformation but none was better prepared for it than Jockey Moseby Jones. He saw the first wrap slide from Grogan's wrists.

"Come on, baby!" yelled Mose, bumping Elisha with his spurs. "Come on! We got a race here afteh all! Yes, suh, 'is black hawss wakin' up! Show him something, baby! Show him ow' class!"

Jockey Grogan laughed and flung an insult over his shoulder.

"Class? That skate?" said he. "Stay with us as long as you can. This is a-a-a horse, nigger, a-a-a horse!"

Black Bill was beginning to run at last, as the grand stand acknowledged with frenzied yells. Yes, he was running, but a gaunt bay horse was running with him, stride for stride. Old Man Curry, at the paddock gate, tugged at his beard with one hand and fumbled for his tobacco with the other.