Old Caleb Coke's rugged features writhed themselves into a saturnine grin as he watched the savage onset with an inherited instinctive interest.

'Dashed if I ever seen a better-matched pair,' he growled out, half unconsciously. 'I'd a walked twenty mile when I was a youngster to see a battle like it. It's even betting—Larry's a quick hitter and pretty fit, but I doubt he's met his match. Well, it's d—d little to me who wins. First blood to Larry, by ——!'

By this time the two men were hard at it. The heavy blows on face and body, which in such a contest fall fast and furious, sounded strangely clear in the rarified mountain atmosphere—the old stock-rider and the dogs the sole spectators. These last—comrades of mankind under such ever-changing conditions—looked on with manifest interest. The bull-dog, indeed, until warned by a kick from his master, being minded to smash his chain and make a third in the encounter. The blow from Trevenna to which Coke had alluded had split the flesh above the cheek, showing the white bone underneath, as if gashed by a knife. Its effect was due less to want of skill on Lance's part than to his desperate determination to get to close quarters with his foe. And, indeed, all unheeding of the punishment, which would have staggered another man less iron-sinewed and agile, he forced his opponent before him with a succession of blows, delivered with such terrific power and rapidity that Trevenna's guard was completely broken in, eventually sending him to the earth, half stunned and motionless.

Lawrence Trevenna had underrated his foe in more than one respect. During the few weeks which he had spent in Omeo Lance Trevanion had worked harder than he had ever done in his life before. Partly to dull the memories of the past, as well as to quiet the haunting fear of apprehension, he had toiled incessantly. The keen air, the healthy appetite, the free intercourse with his fellow-men, had restored him to fullest strength and activity. Never in his life, as he stepped forward to meet his foe, had he felt more fully conscious of muscular strength and deer-like elasticity—those glorious physical gifts with which only early manhood is endowed.

As they fronted each other for the second time, face to face and eye to eye, as is the wont of men of British race in such a contest, Coke could not fail to be impressed with their extraordinary likeness to each other, and the similarity of their general cast of feature. The colour of the hair was identical, and but for a slight deviation in the direction of coarseness on the one hand, and that indescribable something which belongs to the man of birth on the other, they could hardly have been distinguished from each other by a casual spectator. In their eyes, so remarkable in both, burned in that hour the deadliest fire of hate, the difference alone being that while it glowed furnace-bright in the orbs of Lance Trevanion, Trevenna's glare, in demoniacal malice, resembled the rage of a wild beast.

'By ——,' said the old man, as once more he marked the blood-stained faces of the desperate combatants, who again went at each other with silent fury, 'I could fancy as they was brothers. They ought to shake hands and travel the country. What a circus they'd be able to run. Ha! Larry's down agen. The Ballarat cove's too good for him.'

It was even so. For a short time only it appeared as if the issue was doubtful. There was but little thought of evasion or parrying of blows on either side. The terrific rally with which the second round ended would have brought to a close more than one world-famous fight. But Lance Trevanion fought as though each arm—like the Familiar of the enchanter—wielded an iron flail. And when Lawrence Trevenna went down, beaten dead and senseless from the last tremendous 'upper cut,' it was evident that he would not come to time.

'That last left-hander knocked him out,' said the old man, with a grin of qualified approval, while a strange expression lurked in his evil eyes. 'It ain't no use follerin' it up, as I see. Dip that pannikin in the bucket while I sluish his neck a bit. You ain't settled him this time, Harry, but it's a d—d close shave.'

'He deserves death at my hands a dozen times over,' said Lance, gazing down upon the fallen man, as Coke raised his bleeding face, and, after an interval, succeeded in restoring animation, while the dogs stood around licking their lips, as if the savour of blood had aroused their ferocious instincts. 'But I have done with him for the present. Let him cross my path again at his peril.'

Thus speaking, he turned to where his horse had been secured and made preparations for departure, waiting, however, in order to satisfy himself as to the condition of his late antagonist. That personage, after a few minutes, was sufficiently recovered to raise himself to a sitting posture, and eventually to his feet, when he supported himself by leaning against a tree.