Never had a Derby excited greater interest. Four hot favourites, between which the public seemed unable to choose. Two to one taken and offered against Fly-leaf, winner of the Two Thousand; four to one taken and offered against Signet-ring, who, half-trained, had run Fly-leaf to a head. Four to one against Necklace, the winner of the Middle Park Plate and the One Thousand. Seven to one against Dewberry, the brilliant winner of the Newmarket stakes. The chances of these horses were argued every night at the "King's Head." Ketley's wife used to wear a string of yellow beads when she was a girl, but she wasn't certain what had become of them. Ketley did not wear a signet-ring, and had never known anyone who did. Dewberries grew on the river banks, but they were not ripe yet. Fly-leaf, he could not make much of that—not being much of a reader. So what with one thing and another Ketley didn't believe much in this 'ere Derby. Journeyman caustically remarked that, omens or no omens, one horse was bound to win. Why didn't Herbert look for an omen among the outsiders? Old John's experiences led him to think that the race lay between Fly-leaf and Signet-ring. He had a great faith in blood, and Signet-ring came of a more staying stock than did Fly-leaf. "When they begin to climb out of the dip Fly-leaf will have had about enough of it." Stack nodded approval. He had five bob on Dewberry. He didn't know much about his staying powers, but all the stable is on him; "and when I know the stable-money is right I says, 'That's good enough for me!'"

Ginger, who came in occasionally, was very sweet on Necklace, whom he declared to be the finest mare of the century. He was listened to with awed attention, and there was a death-like silence in the bar when he described how she had won the One Thousand. He wouldn't have ridden her quite that way himself; but then what was a steeplechase rider's opinion worth regarding a flat race? The company demurred, and old John alluded to Ginger's magnificent riding when he won the Liverpool on Foxcover, steadying the horse about sixty yards from home, and bringing him up with a rush in the last dozen strides, nailing Jim Sutton, who had persevered all the way, on the very post by a head. Bill Evans, who happened to look in that evening, said that he would not be surprised to see all the four favourites bowled out by an outsider. He had heard something that was good enough for him. He didn't suppose the guv'nor would take him on the nod, but he had a nice watch which ought to be good for three ten.

"Turn it up, old mate," said William.

"All right, guv'nor, I never presses my goods on them that don't want 'em. If there's any other gentleman who would like to look at this 'ere timepiece, or a pair of sleeve links, they're in for fifteen shillings. Here's the ticket. I'm a bit short of money, and have a fancy for a certain outsider. I'd like to have my bit on, and I'll dispose of the ticket for—what do you say to a thin 'un, Mr. Ketley?"

"Did you 'ear me speak just now?" William answered angrily, "or shall I have to get over the counter?"

"I suppose, Mrs. Latch, you have seen a great deal of racing?" said
Ginger.

"No, sir. I've heard a great deal about racing, but I never saw a race run."

"How's that, shouldn't you care?"

"You see, my husband has his betting to attend to, and there's the house to look after."

"I never thought of it before," said William. "You've never seen a race run, no more you haven't. Would you care to come and see the Derby run next week, Esther?"