He had, of course, decided in favor of Hatrack, while the big man had declared for a foul and no decision, and the third judge stood wavering.

On the face of it the whole thing was a steal on the part of the gamblers, who had evidently decided beforehand that if the race went against them to claim a foul and bluff it through.

But they had argued without their host. They did not know what they were opposing when they ran against Ted Strong.

Ted was sorry that he had gone into the affair at all, but once in he was there to stick to the finish. The fellow whom he had knocked down had retired to the rear to attend to his broken nose, and to give his friends an opportunity to fight his battle.

The foreman of the Running Water had disappeared. He had foreseen trouble when the gamblers got together, and attempted to force the race through, and had gone to collect the cow-punchers and others who had been induced to bet on Hatrack.

Ted stood his ground patiently, waiting until a decision should be handed down by the judges before declaring himself.

Stella was sitting in her saddle on Hatrack a few feet away from the stand watching the proceedings, and listening to the arguments on both sides made by the angry men.

Bud and Kit stood on either side of her, to protect her from the remarks of the disgruntled gamblers.

Suddenly a man pushed his way through the throng, mounted on a Spanish mule.

He was a fine-looking man, dressed after the manner of the plainsman, and might have been either a cow-puncher in prosperity or a ranch owner.