When Penny reached the dock next morning she found that Sally had preceded her by many hours. The varnished wood of the Cat’s Paw shone in the sunlight. Below the waterline, the boat was as smooth and slippery as glass.

“Isn’t she beautiful?” Sally asked proudly, squeezing water from a sponge she had been using. “The rigging has been overhauled, and Pop came through at the last minute with a new jib sail. Every rope has been changed too.”

“It looks grand,” Penny praised. “You must have worked like a galley slave getting everything ready for the race.”

“I have, but I want to win. This race means everything to me.”

“Are you sure you want me to sail with you?” Penny asked dubiously. “After all, I am not an expert. I might handicap you.”

“Nonsense! There’s no one I would rather have—that is, if you still want to do it. Was Jack angry when you told him?”

Penny confessed that she had not spoken to any of the Gandiss family of her intention to take part in the race. “But it will be all right,” she added. “Jack really isn’t such a bad sport when you get to know him. I only hope we win!”

“Oh, we’ll come in among the leading five—that’s certain,” Sally said carelessly. “This is only a preliminary race today. The five winning boats will compete next week in the finals.”

“If you lose today must you give up the trophy?”

“Not until after the final race.” Sally laughed goodnaturedly. “But don’t put such ideas in my head. We can’t lose! I’m grimly determined that Jack mustn’t beat me!”