he wrote it on the
schedule.

The crowd on the judges' yacht cheered the commodore as the Skylark
rounded the Penobscot, and the ladies waved their handkerchiefs at him
with desperate enthusiasm.

"I thought you said the Sea Foam was to beat the Skylark," said Nellie
Patterdale.

"I think she may do it yet," replied Donald.

"And Sam's new boat must beat them both, Don John," laughed Maud Rodman.

"Time!" called Sam.

"Twelve, forty-five, two," added Frank.

"Twelve, forty-five, two," repeated Donald, writing down the time.

By this time the Skylark had come about, not by gybing,--for the wind
was too heavy to make this evolution in safety,--but had come round head
to the wind, and now passed under the stern of the Penobscot.

"Skylark!" reported the commodore.

A few minutes later the Sea Foam did the same. The Phantom came in a
minute after the Sea Foam, and for a few moments the judges were very
busy taking the time of the next four boats. The Juno did not arrive
till half past one, and she was the last one. As fast as the yachts
rounded the Penobscot, they went off to the line and picked up their
cables and anchors. The captains of the several craft which had sailed
in the race then boarded the Penobscot to ascertain the decision of the
judges.

"You waxed me badly, Robert," said Ned Patterdale, who was mortified at
the defeat of the Sea Foam, though he kept good-natured about it.

"I still think the Skylark can't be beaten by anything of her inches,"
replied Commodore Montague.

"I am rather disappointed in the Sea Foam," added Ned.

Donald heard this remark, and he was much disturbed by it; for it
seemed like a reproach upon the skill of his father, and an imputation
upon the reputation of Ramsay and Son. If the yachts built by the "firm"
were beaten as badly as the Sea Foam had been, though she had outsailed
the Phantom, it would seriously injure the business of the concern. The
defeat of the Sea Foam touched the boat-builder in a tender place, and
he found it necessary to do something to maintain the standing of the
firm. He knew just what the matter was; but under ordinary circumstances
he would not have said a word to damage the pride of the present owner
of the Sea Foam.

"I am sorry you are not satisfied with her, Ned," said Donald.

"But I expected too much of her; for I thought she was going to beat the
Skylark," replied Ned Patterdale. "I think you encouraged me somewhat in
that direc