"Huh!" interrupted Sam. "You aren't out of the woods yet. There's no knowing what may happen before we turn the last stake."

"Sam," demanded Fred anxiously, "have you any reason to suspect anything more?"

"Nothin' except that I know those fellows will not stop at anything to win the race. They have a lot of money bet and they aren't goin' to lose it if they can help it."

"Well, I shan't have any sympathy for them if they do lose their money," spoke up Grant, "at least if they lose it by betting on their boat. I don't believe in that thing myself. I don't want any money that I haven't honestly earned."

"That's all right to talk," laughed John.

"It's all right to DO, too," asserted Grant positively. "I don't believe there's anything that takes away the best part of a man as surely as gambling. The gambler has no sympathy for any one, his heart is dried up and to my mind he is about the worst specimen you can find anywhere."

At that moment the conversation was interrupted by the firing of the first gun. This was the signal for all the boats to prepare themselves for the coming struggle. Several minutes would elapse before the race began and the report was for the warning of the contestants.

The boys now were clad in bathing suits although every one wore a sweater in addition. They were confident that they would speedily be drenched and they were prepared for emergencies. If any accident befell the boat and they were compelled to swim, they would not be hampered by heavy clothing.

It had been agreed that there should not be a flying start. Every boat was to rest on the line and turn on its power after the second signal was given.

As Fred, who was at the wheel glanced along the line of the contestants he counted ten other boats that had entered the race. The only one of the number, however, which he feared was the graceful little motor-boat, only a few yards distant from the place where the Black Growler was resting.