all right, and I guess he has as good a claim to it as any other man." Cynthia was apt to flaunt the Stars and Stripes when Mrs. Devar aired her class conventions, and the older woman had the tact to agree with a careless nod. Nevertheless, had Cynthia Vanrenen known how strictly accurate was her comment she would have been the most astounded girl in London at that minute. The Viscountcy, of course, was nothing more than a courtesy title; in the cold eye of the law, Medenham's full legal name was that which Mrs. Devar deemed ridiculous. As events shaped themselves, it was of the utmost importance to Cynthia, and to Medenham, and to several other persons who had not yet risen above their common horizon, that Mrs. Devar's sneer should pass unchallenged. Though that lady herself was not fashioned of the softer human clay which expresses its strenuous emotions by fainting fits or hysteria, some such feminine expedient would certainly have prevented her from going another hundred yards along the south road had some wizard told her how nearly she had guessed the truth. But the luck of the born adventurer saved Medenham from premature exposure. "I dare all" was the motto of his house, and it was fated to be tested in full measure ere he saw London again. Of these considerations the purring Mercury neither knew nor cared. She sang the song of the free highway, and sped through the leafy lanes of Surrey with a fine disregard for Acts of Parliament and the "rules and regulations therein made and provided." Soon after one o'clock, however, she was compelled to climb the road to the downs in meek agreement with two lines of toiling chars-à-bancs and laboring motors. Just to show her mettle when the opportunity offered, she took the steep hill opposite the stands with a greyhound rush that vastly disconcerted a policeman who told Medenham to "hurry up out of the dip." Then, having found a clear space, she dozed for a while, and Cynthia, like a true-born American, began the day's business by giving the answer before either of her companions even thought of putting the Great Question. "Grimalkin will win!" she cried. "Mr. Deane told my father so. I want to play Grimalkin for ten dollars!" CHAPTER II THE FIRST DAY'S RUN Though Medenham was no turf devotee, he formed distinctly unfavorable conclusions as to the financial stability of the bawling bookmakers near at hand. "If you wish to do any betting, Miss Vanrenen," he said, "give me the money and I will invest it for you. There is no hurry. The Derby will not be run till three o'clock. We have an hour and a half in which to study form." For the life of him he could not imitate the complete annihilation of self practiced by the well-bred English servant. The American girl missed the absence of this trait far less