Amidst a tornado of maddening cheers and cries the trio raced neck and neck. The white, the yellow, and the pink, seemed hopelessly mixed together, and they could not be separated.

Jim Dennis held his breath and caught hold of Dr Tom's arm.

Dr Tom emitted a sound somewhat resembling a groan, so intense was his anxiety, and to relieve the tension grasped Mr Dauntsey's arm, until the worthy magistrate winced in spite of the excitement he was under.

So great was the struggle, such a powerful effect had it on the dense mass of people that they had barely enough breath left to shout.

Willie saw the judge's box, he saw the head of Defiance on one side, his red nostrils glowing like coals, his eyes starting out, his neck outstretched, and heard the gallant horse's breath coming in sobs and gasps.

On the other side was the head of Bung Bung, who was equally done up, and whose eyes had a dull, beaten look in them.

He saw the head of Grey Bird was slightly in front of the other two heads, and, by a great effort, he lifted the grey forward and shot him past the post—a winner by a neck; and Bung Bung just beat Defiance by a head for second place.

The scene which followed baffles description.

As Jim Dennis led in the beautiful grey tumultuous cheering rent the air.

'Bravo, young un!' 'Well ridden!' 'He's lost a stirrup!' 'Great riding, by Jove!' 'Hurrah for the little chap!' this last from the excited Dr Tom.