He had been indulging somewhat freely and was in a boisterous mood.

'Now then, Dennis, I'll give you a chance,' he said. 'No one else seems willing to take it on. I'll bet you a level hundred, or any part of it, that Distant Shore beats Neptune.'

'Considering the odds, you ought to lay me a hundred to fifty,' said Jim. 'You have Madsley riding, and my lad has not his experience.'

'I'm not particular,' said Shaw. 'I'll bet you a hundred to fifty if you like that Distant Shore beats your horse.'

'Very well, it's a wager,' said Jim.

'I'll lay you a hundred to ten against Neptune,' said Aaron Hyam.

'That will suit me,' replied Jim.

'I'll take that too,' said Dr Tom.

The people crowded round them, and there was a lot of jostling and pushing in a good-humoured way.

Abe Dalton was there, but wisely kept in the background. He had no desire to risk an encounter with Jim Dennis.