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Rh seen among the foremost, and near the rails. Mr. Telfer almost trembled as he watched through his glasses.

"Hang that Willett! " he said, almost to himself. "He's too clever against those rails before getting clear. All right, though, all right! He's coming!"

Janissary, indeed, was showing in front, and as the horses came along the straight it was plain that Mr. Telfer's colt was holding the field comfortably. There were changes in the crowd; some dropped away, some came out and attempted to challenge for the lead, but the favourite, striding easily, was never seriously threatened, and in the end, being a little let out, came in a three-lengths winner, never once having been made to show his best.

"I congratulate you, Mr. Telfer," said Dorrington, "and you may congratulate me."

"Certainly, certainly," said Mr. Telfer hastily, hurrying off to lead in the winner.

It was a bad race for the ring, and in the open parts of the course many a humble fielder grabbed his satchel ere the shouting was over, and made his best pace for the horizon; and more than one pair of false whiskers, as red