"Oh, come off," said big Jones. "Come off with your Merchants' Cup. Th' James Flint's a sure thing, and she wasn't more than half-loaded when we were up at Crockett on Sunday!"

"Well, there she comes anyway! James Flint, sure enough! Grade's house-flag up, and the Stars and Stripes!"

We hustled on deck and looked over by the Sacramento's mouth. "Fatty" was right. A big barque was towing down beyond San Pedro. The James Flint! Nothing else in 'Frisco harbour had spars like hers; no ship was as trim and clean as the big Yankee clipper that Bully Nathan commanded. The sails were all aloft, the boats aboard. She was ready to put to sea.

Our cries brought the captain and mate on deck, and the sight of the outward-bounder made old man Burke's face beam like a nor'west moon.

"A chance for ye now, byes," he shouted. "An open race, bedad! Ye've nothin' t' be afraid of if th' James Flint goes t' sea by Saturday!"

Great was our joy at the prospect of the Yankee's sailing. The 'Frisco Merchants' Cup was to be rowed for on Saturday. It was a mile-and-half race for ships' boats, and three wins held the Cup for good. Twice, on previous years, the Hilda's trim gig had shot over the line—a handsome winner. If we won again, the Cup was ours for keeps! But there were strong opponents to be met this time. The James Flint was the most formidable. It was open word that Bully Nathan was keen on winning the trophy. Every one knew that he had deliberately sought out boatmen when the whalers came in from the north. Those who had seen the Yankee's crew at work in their snaky carvel-built boat said that no one else was in it. What chance had we boys in our clinker-built against the thews and sinews of trained whalemen? It was no wonder that we slapped our thighs at the prospect of a more open race.

Still, even with the Yankee gone, there were others in the running. There was the Rhondda that held the Cup for the year, having won when we were somewhere off the Horn; then the Hedwig Rickmers—a Bremen four-master—which had not before competed, but whose green-painted gig was out for practice morning and night. We felt easy about the Rhondda (for had we not, time and again, shown them our stern on the long pull from Green St. to the outer anchorage?), but the Germans were different. Try as we might, we could never pull off a spurt with them. No one knew for certain what they could do, only old Schenke, their skipper, and he held his tongue wisely.

The James Flint came around the bend, and our eager eyes followed her as she steered after the tug. She was making for the outer anchorage, where the laden ships lie in readiness for a good start off.

"Th' wind's 'bout west outside," said Jones. "A 'dead muzzler'! She'll not put t' sea tonight, even if she has all her 'crowd' aboard."

"No, worse luck! mebbe she'll lie over till Saturday after all. They say Bully's dead set on getting th' Cup. He might hang back.… Some excuse—short-handed or something!" Gregson was the one for "croaking."