The fight, under a new referee, was in its twentieth round. Not a sound could be heard beyond the shuffling of the pugilists' feet and the thud of fist on flesh.

Feinting with his left, the Mauler clinched heavily with his right, but Ralph foiled the attack with a clever half-nelson. Again Mills swung his right, and again Ralph parried the blow, this time by sending his left to the funny-bone and thus paralysing the arm. He then dashed in and uppercut his opponent severely on the occiput. Mauler Mills staggered to the ropes, to which he clung frantically in order to preserve his balance.

A savage roar went up from the crowd, roused now to a pitch of frenzied excitement. "Now you've got him! Finish him! Put him out!" they shouted.

But Ralph, chivalrous as always, drew back, bowed formally to his opponent and quietly awaited his recovery.

Presently, after a courteous enquiry and an assurance from the Mauler that he was quite ready, the pair exchanged a warm handshake and renewed their combat.

Taking a deep breath, Ralph advanced with cat-like tread and flashing eyes upon his adversary. Knowing from painful experience what to expect, the latter circled cautiously away, covering his face with his hands. But Ralph, realising that time was short, determined not to be baffled. Combining the agility of the chamois with the ponderous strength of the hippopotamus, he crouched low and sprang like a tiger through the air upon the unhappy Mauler, striking him full on the solar plexus. White to the lips, the Mauler fell squirming to the floor, while Ralph nonchalantly adjusted a lock of hair which had floated loose.

"One—two—three ..." the voice of the referee was like the voice of inexorable Fate ... "four—five—six ..." Lady Margaret gripped her brother's arm till his hair stood on end ... "seven—eight ..." The Countess of Snecks fainted with a loud shriek ... "nine—Out"!

The great fight was won. The House of Tamerton was saved.

Clad in his claret-coloured dressing-gown, the new champion pressed his fiancée against the yellow facings and stroked her fair hair fondly with his boxing-gloves.