Gwendoline shook her head sadly.

"I have always thought," she said, "that there was some dark secret in Reggie's life. Hallo, there's a bell. Let's put away these things and go and see what's happening."

Between them, Tony and Musette quickly packed up the débris of luncheon, and then, leaving the car in charge of a courteous, if somewhat heavily suborned, policeman, they all four made their way into the enclosure.

As is usually the case on Cambridgeshire day, the Heath was packed in a manner which must have been highly gratifying to the directors of the race-course. On the further side of the track the spectators stretched away down to the bushes in a long continuous line, while both the stands and the enclosure were as full of people as such superior and expensive places could rightly expect to be.

As soon as the first two races were over, there came a rush for the paddock, where the Cambridgeshire horses were being saddled.

"I vote we stop where we are," said Tony, turning to the others. "What does any one say?"

"Just as you please, as far as I'm concerned," said Reggie. "I like to have a look at the runners, but I'm always ready to be unselfish."

Tony laughed.

"Why, Reggie," he said, "if it wasn't for the tail you wouldn't know one end of a horse from the other."

"Of course not," admitted Reggie calmly; "but I like to walk round and say that so-and-so looks a bit fine-drawn, and thingumybob a bit tucked up. It's wonderful how people always agree with you."