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Anyway, no handicapper alive can make Never Despair win the third race off the form, because this race is at six furlongs, and there is a barrel of speed in it, and anybody can see that old man Mercer's horse is away over his head. In fact, The Dancer tells me that any one of the other five horses in this race can beat Never Despair doing anything from playing hockey to putting the shot, and everybody else must think the same thing because Never Despair goes to forty to one.

Personally, I like a horse by the name of Loose Living, which is a horse owned by a guy by the name of Bill Howard, and I hear Bill Howard is betting plenty away on his horse, and anytime Bill Howard is betting away on his horse a guy will be out of his mind not to bet on this horse, too, as Bill Howard is very smart indeed. Loose Living is two to one in the first line, but by and by I judge the money Bill Howard bets away commences to come back to the track, and Loose Living winds up seven to ten, and while I am generally not a seven-to-ten guy, I can see that here is a proposition I cannot overlook.

So, naturally, I step up to the mutuel window and invest in Loose Living. In fact, I invest everything I have on me in the way of scratch, amounting to a hundred and ten bucks, which is all I have left after taking myself out of the hotel stakes and giving Hot Horse Herbie the finnif, and listening to what Moe Shapoff has to say about the first race, and also getting beat a snoot in the second.

When I first step up to the window, I have no idea of betting all my scratch on Loose Living, but while waiting in line there I get to thinking what a cinch Loose Living is, and how seldom such an opportunity comes into a guy's life, so I just naturally set it all in.

Well, this is a race which will be remembered by one and all to their dying day, as Loose Living beats the barrier a step, and is two lengths in front before you can say Jack Robinson, with a third by the name of Callipers second by maybe half a length, and with the others bunched except Never Despair, and where is Never Despair but last, where he figures.

Now anytime Loose Living busts on top there is no need worrying any more about him, and I am thinking I better get in line at the payoff window right away, so I will not have to wait long to collect my sugar. But I figure I may as well stay and watch the race, although personally I am never much interested in watching races. I am interested only in how a race comes out.

As the horses hit the turn into the stretch, Loose Living is just breezing, and anybody can see that he is going to laugh his way home from there. Callipers is still second, and a thing called Goose Pimples is third, and I am surprised to see that Never Despair now struggles up to fourth with Jockey Scroon belting away at him with his bat quite earnestly. Furthermore, Never Despair seems to be running very fast, though afterward I figure this may be because the others are commencing to run very slow.

Anyway, a very strange spectacle now takes place in the stretch, as all of a sudden Loose Living seems to be stopping, as if he is waiting for a street cab, and what is all the more remarkable Callipers and Goose Pimples also seem to be hanging back, and the next thing anybody knows, here comes Jockey Scroon on Never Despair sneaking through on the rail, and personally it looks to me as if the jock on Callipers moves over to give Jockey Scroon plenty of elbow room, but of course the jock on Callipers may figure Jockey Scroon has diphtheria, and does not wish to catch it.

Loose Living is out in the middle of the track, anyway, so he does not have to move over. All Loose Living has to do is to keep running backward as he seems to be doing from the top of the stretch, to let Jockey Scroon go past on Never Despair to win the heat by a length.

Well, the race is practically supernatural in many respects, and the judges are all upset over it, and they haul all the jocks up in the stand and ask them many questions, and not being altogether satisfied with the answers, they ask these questions over several times. But all the jocks will say is that Never Despair sneaks past them very unexpectedly indeed, while Jockey Scroon, who is a pretty fresh duck at that, wishes to know if he is supposed to blow a horn when he is slipping through a lot of guys sound asleep.

But the judges are still not satisfied, so they go prowling around investigating the betting, because naturally when a boat race comes up there is apt to be some reason for it, such as the betting, but it seems that all the judges find is that one five-dollar win ticket is sold on Never Despair in the mutuels, and they cannot learn of a dime being bet away on the horse. So there is nothing much the judges can do about the proposition, except give the jocks many hard looks, and the jocks are accustomed to hard looks from the judges, anyway. Personally, I am greatly upset by this business, especially when I see that Never Despair pays $86.34, and for two cents I will go right up in the stand and start hollering copper on these little Jesse Jameses for putting on such a boat race and taking all my hard-earned potatoes away from me, but before I have time to do this, I run into The Dancer, and he tells me that Dedicate in the next race is the surest thing that ever goes to the post, and at five to one, at that. So I have to forget everything while I bustle about to dig up a few bobs to bet on Dedicate, and when Dedicate is beat a whisker, I have to do some more bustling to dig up a few bobs to bet on Vesta in the fifth, and by this time the third race is such ancient history that nobody cares what happens in it.

It is nearly a week before I see Hot Horse Herbie again, and I figure he is hiding out on everybody because he has this dough he wins off the fiver I give him, and personally I consider him a guy with no manners not to be kicking back the fin, at least. But before I can mention the fin, Herbie gives me a big hello, and says to me like this:

"Well," he says, "I just see Jockey Scroon, and Jockey Scroon just comes back from Palm Beach, and the operation is a big success, and Lame Louise will walk as good as anybody again, and old Mercer is tickled silly. But," Herbie says, "do not say anything out loud, because the judges may still be trying to find out what comes off in the race."

"Herbie," I say, very serious, "do you mean to say the story you tell me about Lame Louise, and all this and that, the other day is on the level?"

"Why," Herbie says, "certainly it is on the level, and I am sorry to hear you do not take advantage of my information. But," he says, "I do not blame you for not believing my story, because it is a very long story for anybody to believe. It is not such a story," Herbie says, "as I will tell to anyone if I expect them to believe it. In fact," he says, "it is so long a story that I do not have the heart to tell it to anybody else but you, or maybe I will have something running for me on the race.

"But," Herbie says, "never mind all this. I will be plenty smart about a race tomorrow. Yes," Herbie says, "I will be wiser than a treeful of owls, so be sure and see me if you happen to have any coconuts."

"There is no danger of me seeing you," I say, very sad, because I am all sorrowed up to think that the story he tells me is really true. "Things are very terrible with me at this time," I say, "and I am thinking maybe you can hand me back my finnif, because you must do all right for yourself with the fiver you have on Never Despair at such a price."

Now a very strange look comes over Hot Horse Herbie's face, and he raises his right hand, and says to me like this:

"I hope and trust I drop down dead right here in front of you," Herbie says, "if I bet a quarter on the horse. It is true," he says, "I am up at the window to buy a ticket on Never Despair, but the guy who is selling the tickets is a friend of mine by the name of Heeby Rosenbloom, and Heeby whispers to me that Big Joe Gompers, the guy who owns Callipers, just bets half a hundred on his horse, and," Herbie says, "I know Joe Gompers is such a guy as will not bet half a hundred on anything he does not get a Federal Reserve guarantee with it.