The local trainers were considerably impressed with Grey Bird's style of moving, and comments were made on the folly of handicappers letting unknown horses in with such light weights.
There was considerable speculation on the Cup, as usual, and several horses were backed for heavy stakes.
Against Grey Bird fifty to one could be had when he reached Sydney, and Jim Dennis was not slow to accept such tempting odds to win him several thousands. He took a thousand to twenty five times from one bookmaker, who regarded him as fair and legitimate spoil. He then obtained these odds again to another hundred, so that he had the nice bet of ten thousand to two hundred. After Grey Bird had been seen out at Randwick only half this price was obtainable, and the men who had laid fifties were not well pleased with their books.
Dr Tom managed to collect a few outstanding accounts, some several years old, before he left Swamp Creek, and he backed Grey Bird to win him five hundred.
'If it comes off, Jim,' he said, 'I'll have a new turnout and buy sufficient drugs to doctor the neighbourhood with for the next five years.'
Willie became anxious as the eventful day drew near. He had come down to seven stone without dosing, having had long walks during their journey to Sydney. He never felt better in his life, and thought he had a good chance of success. He knew the Cup course well, having galloped Grey Bird over it two or three times.
He found the going on the rails was excellent, but the centre of the course was holding.
The morning of the race was beautifully fine, an ideal day for good sport.
Randwick presented the usual bustling scene, and everyone was on the tiptoe of expectation.
The favourite for the Cup was Defiance, owned by one of the best-known sportsmen in the colonies. The horse had nine stone eight pounds to carry, and was top weight, Taite's horse having been struck out.