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It was a great dress parade of society women. One who wished to play a proper part in it would spend at least ten thousand dollars upon her costumes for the week. It was necessary to have a different gown for the afternoon and evening of each day; and some, who were adepts at quick changes and were proud of it, would wear three or four a day, and so need a couple of dozen gowns for the show. And of course there had to be hats and shoes and gloves to match. There would be robes of priceless fur hung carelessly over the balcony to make a setting; and in the evening there would be pyrotechnical displays of jewels. Mrs. Virginia Landis wore a pair of simple pearl earrings, which she told the reporters had cost twenty thousand dollars; and there were two women who displayed four hundred thousand dollars’ worth of diamonds—and each of them had hired a detective to hover about in the crowd and keep watch over her!

Nor must one suppose, because the horse was an inconspicuous part of the show, that he was therefore an inexpensive part. One man was to be seen here driving a four-in-hand of black stallions which had cost forty thousand; there were other men who drove only one horse, and had paid forty thousand for that. Half a million was a moderate estimate of the cost of the “string” which some would exhibit. And of course these horses were useless, save for show purposes, and to breed other horses like them. Many of them never went out of their stables except for exercise upon a track; and the cumbrous and enormous; expensive coaches were never by any possibility used elsewhere—when they were taken from place to place they seldom went upon their own wheels.

And there were people here who made their chief occupation in life the winning of blue ribbons at these shows. They kept great country estates especially for the horses, and had private indoor exhibition rings. Robbie Walling and Chauncey Venable were both such people; in the summer of next year another of the Wallings took a string across the water to teach the horse-show game to Society in London. He took twenty or thirty horses, under the charge of an expert manager and a dozen assistants; he sent sixteen different kinds of carriages, and two great coaches, and a ton of harness and other stuff. It required one whole deck of a steamer, and the expedition enabled him to get rid of six hundred thousand dollars.

All through the day, of course, Robbie was down in the ring with his trainers and his competitors, and Montague sat and kept his wife company. There was a steady stream of visitors, who came to congratulate her upon their successes, and to commiserate with Mrs. Chauncey Venable over the sufferings of the un-happy victim of a notoriety-seeking district attorney.

There was just one drawback to the Horse Show, as Montague gathered from the conversation that went on among the callers: it was public, and there was no way to prevent undesirable people from taking part. There were, it appeared, hordes of rich people in New York who were not in Society, and of whose existence Society was haughtily unaware; but these people might enter horses and win prizes, and even rent a box and exhibit their clothes. And they might induce the reporters to mention them—and of course the ignorant populace did not know the difference, and stared at them just as hard as at Mrs. Robbie or Mrs. Winnie. And so for a whole blissful week these people had all the sensations of being in Society! “It won’t be very long before that will kill the Horse Show,” said Mrs. Vivie Patton, with a snap of her black eyes.

There was Miss Yvette Simpkins, for instance; Society frothed at the mouth when her name was mentioned. Miss Yvette was the niece of a stock-broker who was wealthy, and she thought that she was in Society, and the foolish public thought so, too. Miss Yvette made a speciality of newspaper publicity; you were always seeing her picture, with some new “Worth creation,” and the picture would be labelled “Miss Yvette Simpkins, the best-dressed woman in New York,” or “Miss Yvette Simpkins, who is known as the best woman whip in Society.” It was said that Miss Yvette, who was short and stout, and had a rosy German face, had paid five thousand dollars at one clip for photographs of herself in a new wardrobe; and her pictures were sent to the newspapers in bundles of a dozen at a time. Miss Yvette possessed over a million dollars’ worth of diamonds—the finest in the country, according to the newspapers; she had spent a hundred and twenty-six thousand dollars this year upon her clothes, and she gave long interviews, in which she set forth the fact that a woman nowadays could not really be well dressed upon less than a hundred thousand a year. It was Miss Yvette’s boast that she had never ridden in a street-car in her life.

Montague always had a soft spot in his heart for the unfortunate Miss Yvette, who laboured so hard to be a guiding light; for it chanced to be while she was in the ring, exhibiting her skill in driving tandem, that he met with a fateful encounter. Afterward, when he came to look back upon these early days, it seemed strange to him that he should have gone about this place, so careless and unsuspecting, while the fates were weaving strange destinies about him.

It was on Tuesday afternoon, and he sat in the box of Mrs. Venable, a sister-in-law of the Major. The Major, who was a care-free bachelor, was there himself, and also Betty Wyman, who was making sprightly comments on the passers-by; and there strolled into the box Chappie de Peyster, accompanied by a young lady.

So many people had stopped and been introduced and then passed on, that Montague merely glanced at her once. He noticed that she was tall and graceful, and caught her name, Miss Hegan.

The turnouts in the ring consisted of one horse harnessed in front of another; and Montague was wondering what conceivable motive could induce a human being to hitch and drive horses in that fashion. The conversation turned upon Miss Yvette, who was in the ring; and Betty remarked upon the airy grace with which she wielded the long whip she carried. “Did you see what the paper said about her this morning?” she asked. “’ Miss Simpkins was exquisitely clad in purple velvet,’ and so on! She looked for all the world like the Venus at the Hippodrome!”

“Why isn’t she in Society?” asked Montague, curiously.

“She!” exclaimed Betty. “Why, she’s a travesty!”

There was a moment’s pause, preceding a remark by their young lady visitor. “I’ve an idea,” said she, “that the real reason she never got into Society was that she was fond of her old father.”

And Montague gave a short glance at the speaker, who was gazing fixedly into the ring. He heard the Major chuckle, and he thought that he heard Betty Wyman give a little sniff. A few moments later the young lady arose, and with some remark to Mrs. Venable about how well her costume became her, she passed on out of the box.

“Who is that?” asked Montague.

“That,” the Major answered, “that’s Laura Hegan—Jim Hegan’s daughter.”

“Oh!” said Montague, and caught his breath. Jim Hegan—Napoleon of finance—czar of a gigantic system of railroads, and the power behind the political thrones of many states.

“His only daughter, too,” the Major added. “Gad, what a juicy morsel for somebody!”

“Well, she’ll make him pay for all he gets, whoever he is!” retorted Betty, vindictively.

“You don’t like her?” inquired Montague; and Betty replied promptly, “I do not!”

“Her daddy and Betty’s granddaddy are always at swords’ points,” put in Major Venable.

“I have nothing to do with my granddaddy’s quarrels,” said the young lady. “I have troubles enough of my own.”