In the paddock he introduced Captain Seagrave to Sir Lester and Winifred, and the skipper at once divined this was the young lady Jack Redland had in view. He admired his choice, and Winifred's affable manner towards him increased his respect for Jack's judgment. Sir Lester was amused at the captain and thought that after all Jack was not far wrong in selecting the "Golden Land" to voyage in to Fremantle.

Topsy Turvy looked as fit as hands could make him, but he had top weight, and there were half a dozen good horses in the race. Speculation on the Welter, as a rule, was not extensive, but on this occasion the bookmakers fielded liberally, and the odds against Sir Lester's horse were five to one. At this remunerative figure he secured five hundred to a hundred on Jack's account, while Captain Seagrave plunged to the extent of a ten pound note, a reckless proceeding he had never been guilty of before.

He handled the note tenderly, and sighed as he gave it to the layer of odds, who plunged it with indifference into his capacious bag.

"He thinks no more of it than of a bit of waste-paper," thought the captain. "I wonder if the day will come when I can bundle ten pound notes into my pocket like that. If Topsy Turvy wins I shall have fifty to the good, and shall know what it is to be rich."

Bibury was favourite at even money, and as he had recently won a big race, the majority of backers fancied the race was good for him. Marco and The Duke were also well backed, as were all the others, seven runners appearing on the board.

The owner of Bibury, a clever amateur, was riding his horse, and he advised Sir Lester to back it.

"Topsy Turvy is a good horse," he said, "but I do not think he has much chance of giving the weight away to my fellow. I hear Jack Redland is going out to Australia. I'm sorry, he is a real good fellow."

"This will be his last mount in England for some years, I expect," replied Sir Lester, "but I hope to see him carry my colours again when he returns. You seem confident about Bibury; I may tell you my horse was never so well as he is at present, and he will give you a good race."

Winifred was talking to Jack as he prepared to mount. She was very anxious for him to win, as she knew the five hundred pounds would be very useful to him.

"You must win, Jack," she said. "It will be the last time I shall see you carry the old colours."