He nodded and pointed to the numbers which were going up. She flashed a sudden look upon him which more than compensated him for his defeat. At least he had earned her respect that day, as a man who knew how to accept defeat gracefully. They walked slowly up the paddock and stood on the edge of the crowd, whilst a great person went out to meet his horse amidst a storm of cheering. It chanced that he caught sight of Trent on the way, and, pausing for a moment, he held out his hand. “Your horse made a magnificent fight for it, Mr. Trent,” he said. “I'm afraid I only got the verdict by a fluke. Another time may you be the fortunate one!” Trent answered him simply, but without awkwardness. Then his horse came in and he held out his hand to the crestfallen jockey, whilst with his left he patted Iris's head. “Never mind, Dick,” he said cheerfully, “you rode a fine race and the best horse won. Better luck next time.” Several people approached Trent, but he turned away at once to Ernestine. “You will let me take you to Lady Tresham now,” he said. “If you please,” she answered quietly. They left the paddock by the underground way. When they emerged upon the lawn the band was playing and crowds of people were strolling about under the trees. “The boxes,” Trent suggested, “must be very hot now!” He turned down a side-walk away from the stand towards an empty seat under an elm-tree, and, after a moment's scarcely perceptible hesitation, she followed his lead. He laughed softly to himself. If this was defeat, what in the world was better? “This is your first Ascot, is it not?” she asked. “My first!” “And your first defeat?” “I suppose it is,” he admitted cheerfully. “I rather expected to win, too.” “You must be very disappointed, I am afraid.” “I have lost,” he said thoughtfully, “a gold cup. I have gained--” She half rose and shook out her skirts as though about to leave him. He stopped short and found another conclusion to his sentence. “Experience!” A faint smile parted her lips. She resumed her seat. “I am glad to find you,” she said, “so much of a philosopher. Now talk to me for a few minutes about what you have been doing in Africa.”