grinned
the boy.

Frank knew now that there was a "job" to knife him in the race.
Rattleton and Diamond were on hand, and they took turns in helping Toots
keep guard over Nemo.

Merriwell was angry. He went out looking for John Baldwin. When he found
Baldwin he offered to bet all the money he had about him that Nemo would
take either the first or the second purse. Baldwin snapped at the bet in
a manner that showed he believed he had a "soft thing."

"You'll go back to Yale broke," he sneered.

"Don't let that worry you," returned Frank, coolly. "It strikes me that
the fellow who is furnishing you with cash stands a chance of dropping
something."

"You say that very mildly. You're scared now."

"If I had more money about my clothes I'd put it all up."

"That shows what an easy thing you are. I'll take your paper against my
good money, and now you don't dare do a thing."

"How much do you want to risk that way?"

"Any sum you like."

"I'll go you for five hundred."

"Done."

Frank had made the original selection of stakeholder, and he had chosen
a man who was interested in the track, but was known to be perfectly
square. This choice had proved satisfactory to Baldwin.

Once more this man was hunted up, and he felt it his duty to caution
Frank. The boy simply smiled.

"Don't lose any sleep about me, Mr. Davis," said Frank, quietly. "It
isn't necessary."

Twenty minutes after this bet was made John Baldwin informed Evan
Hartwick.

"Good!" cried Hartwick, fiercely. "If I get hold of that piece of paper
I'll use it to ruin Frank Merriwell at Yale. I can do it! Nemo must be
fixed for fair!"

Then he rushed away.

"Oh, well!" said Baldwin, with a satisfied smile; "I don't care which
way the wind blows now. I have made my commission on this work to-day,
and I have nothing to lose. If those fellows slip up in their plans it
won't be my funeral."

Then he lighted a cigar and strolled away.

Rattleton and Diamond watched Nemo closely, permitting Toots to get an
hour's sleep. Then the colored boy came out feeling first rate, and
Merriwell showed up to take his friends to have something to eat.

"By Jove!" he exclaimed, with a happy laugh. "One of you fellows will
have to loan me the money to settle for the feed. I've staked every cent
on Nemo, and I haven't enough left to purchase a sandwich."

"Whew!" whistled Diamond. "Haven't you been plunging pretty steep, old
man?"

"Oh, I don't know!" smiled Fr