The chase commenced. Three to four lengths in front were Isaac and Roland. The form was coming out well. If Barellan beat the Derby and Caulfield Cup winners he would indeed be a great horse. When he lost his place, and fell back soon after rounding the bend, there were at least a dozen lengths to make up. It seemed impossible it could be done. Nicholl rode with splendid judgment, nursing his mount carefully, easing him as far as he dare, but he could not afford to lose more ground. Then came the sudden spurt on the horse's part, without being forced. It was a spontaneous effort, without pressure, and Nicholl's hopes rose rapidly. His winning prospects increased with every stride.

Pandemonium reigned on the course. This was to be a most exciting finish. If Barellan kept up his run to the finish there was no telling what might happen.

Isaac was on the rails, Roland level with him, the pair racing in grim earnest, fighting as only the best thoroughbreds can; no giving way, no acknowledging defeat, a battle of giants, stern, determined, the jockeys helping their mounts with all the skill and experience at their command.

Barellan, and Out Back, were having a tussle behind the leading pair. The spectators, roused to a boiling pitch of excitement, watched first the leaders, then the others, and wondered if the latter pair would get up.

It was a breathless scene, full of strange emotion, bringing out all the pent-up enthusiasm that nothing can rouse like a great race. People watched with bated breath; hands shook, hearts palpitated, eyes blinked, faces twitched, nerves twinged, pulses beat rapidly. In all those thousands no one appeared to stand quite still. There were movements everywhere; it was impossible to restrain them.

Glen Leigh's mind was in a whirl.

Twenty-five thousand pounds at stake, a fortune on Barellan and the horse was only a few lengths from the winning post. He guessed how many, twenty, thirty, more, less, which was it? What did it matter, if only he won at the finish!

"He'll win, he'll win, he'll win," seemed to be the refrain in Glen's ears as he now and then caught a dull sound of hoofs when there were brief lulls in the shouting.

"Go on, Luke," he yelled. "Go on. You'll catch 'em."

He could not restrain his feelings. He must shout or something would happen. The strain was too great. There might be a snap, and then collapse.