Here was a small racecourse, and local horsemen were running races for small purses and side bets.

At once something in the center of the racetrack attracted Leo’s attention.

It was a very large balloon, swaying gracefully to and fro in the light breeze that was blowing.

The boy was interested on the instant, as he had not seen a balloon since he was a small boy.

“Father once went up in one of those things,” he mused, as he moved forward. “I would like to try it once myself.”

Around the balloon were half a dozen men, preparing for the ascension, to take place half an hour later.

Professor Williams, the aeronaut, had not yet put in appearance.

The balloon was about filled with hot air and the men were merely keeping the air warm until the professor should arrive.

As Leo stood by watching the arrangements an outsider came up.

“Too bad!” he said.