"What?" Challoner began to understand.

Pemmican nodded.

"Sure thing—ten thousand dollars!"

Slowly and deliberately Challoner refilled his glass to the brim. For a moment there was silence, then Pemmican repeated tantalisingly:—

"Ten thousand dollars—not a cent less!"

Challoner thought for a moment.

"How did you come out?" he asked, much to the other's surprise.

Pemmican shook his head.

"I lost a cool thousand because I did not back the mare. I played on Tigerskin. I've got to get that thousand back, somehow."

Challoner emptied his glass.