“Well, the present conditions seem to suit the Balsam pretty well,” exclaimed George. “Let’s hope they continue.”

The second stake was reached with the Balsam still farther in the lead than before. The wind steadily increased in strength and forced the sturdy little catboat through the water at an amazing speed.

“I didn’t know she could go so fast,” exclaimed John enthusiastically.

“None of us did, I guess,” said Grant. “She’s all right though, isn’t she?”

“I should say so,” cried George. “Say, just look at her go,” and he scrambled over to the other side of the boat. The Balsam was heeled far over and the lee rail was awash. Now and then a wave, a little larger than its fellows, slapped lustily against the side and covered the crew with spray.

“We’ll have to reef her if this wind gets much stronger,” said Fred just before they had completed the first round.

“What’s the use?” demanded George. “It’s great this way, and we’re certainly gaining on those fellows all the time.”

“Yes,” said Fred, “but you don’t want to lose the mast, do you?”

“Or we might upset,” added Grant.

“Suppose we do,” cried George. “It won’t hurt us.”