nning to
grow unsteady, and there was a wild roaring in his ears. Through a
bluish mist he saw the great crowd on the shore near the starting
point, and he knew the eyes of hundreds were upon the contestants.

"I'll die before he shall pass me!" thought Rains.

And then, once more, he heard the skates of his rival ringing clear
close at his elbow. One wild look he cast over his shoulder, and there
was Merriwell, fearfully near--and gaining!

Paul's heart rose with a bursting sensation into his throat. He had
seen that Merriwell's face bore a look of determination--nay, more, a
look of confidence.

Oh, for the power to hold out to the end! Again he forced himself to
spurt; but, as that mad burst of energy slackened, he felt, rather than
saw, his rival reach his side.

Now a great cheer broke from the crowd of excited and delighted
spectators, for the two boys were fairly abreast, and neither seemed
able to gain another inch on the other.

Rains had shut his teeth, his nostrils were dilated, and his eyes wild
in their sockets. The finish line was near, and he must cross it in
advance--a yard, a foot, an inch!

But he little knew that Frank Merriwell had reserved for the last
supreme moment enough strength to make a final spurt.

Now--now is the time for one or the other to forge ahead!

Another shout goes up:

"Merriwell! Merriwell! He's the winner! Hurrah!"

Frank had forged to the front; but, even as the cheer came from the
crowd, he was seen to be flipped into the air, as if he had struck a
spring-board, and he came down heavily on the ice. There was no time
to recover.

Frank slid over the starting line, prostrate on the ice; but Paul Rains
crossed it upright, and at least three yards in advance.

Rains had won!

An accident had prevented Frank from winning, for his skate had struck
a flaw in the ice, and he had been thrown with stunning force.

Great was the excitement. Merriwell was picked up and carried to the
shore, where a dash of cold water brought him round.

Rains was quite used up for a while, but he soon recovered. His
friends crowded round him to offer congratulations.

"You beat Merriwell this time, Paul," they said.

"But he fell," said Paul, bitterly. "That makes the victory anything
but satisfactory. However, I will race him again at any time and any
place."

Little did he think how soon they would race again.

Within a short time after the finish of the race, a su