“The price was only two to one,” he explained, apologetically.

“Never mind,” said my companion; “better luck next time. Just place this thirty dollars for me, and that will do—for the present.”

The process was repeated, and this time ninety dollars changed hands; but the wire-tapper was evidently nervous and anxious to be gone, and when my companion tentatively suggested a third attempt he refused point-blank, on the ground that if he won any more that day it would arouse suspicion. This objection, however, was overruled by the other offering to place the money himself.

“And we’ll make the amount worth while; shall we?” he added, turning to me. “Do you feel inclined to join me in a hundred-dollar bet?”

Fifty dollars meant a good deal to me then, but the two or three hundred it would bring in meant a great deal more, so I took the plunge. After another note had changed hands between the wire-tapper and the boy, he told us to back Rough Diamond for the next race, and threw in fifty dollars as his own stake; then we took up our position on the opposite pavement and waited expectantly.

To my surprise my companion soon appeared and exultantly informed us that he had succeeded in placing our stake on Rough Diamond to win at three to one.

“To win?” roared the wire-tapper.

“Yes, to win,” retorted the other, feebly.

The wire-tapper literally danced on the pavement.

“You fool!” he spluttered; “I told you to back the horse for a place this time—it has come in third.” He turned to me. “Didn’t I say for a place?” he snapped, vehemently.