There are several smart betting clubs in London, but none smarter or more up-to-date than the Post Club. Like most institutions of the kind, it is somewhat mixed and largely devoted to the purposes of gambling. All sorts and conditions of men can be met there, from the magnates of the turf down to small bookmakers. At the same time the subscription is a heavy one and the entrance fee large. It is so large, indeed, that the police have never been bold enough to raid the club, which is conducted on the best principles. Betting on the tape goes on to an enormous extent, and there on most afternoons of the racing season nearly all the chief commission agents can be found. The club premises consist of a billiard-room, dining-room, and smoking-room, the last fitted with several tape machines, which bring the result of the day's racing directly from the course. Great wagers are constantly being made and sometimes enormous bets effected even after the horses have been dispatched by the starter. Till after lunch the club is very quiet as a rule. On the first day of the Mirst Park Meeting not more than half a dozen racing men were in the dining-room. At a little table near the door sat the Major and his guest, discussing a dainty luncheon to the accompaniment of a choice brand of champagne. The Major was beaming. This was a pastime after his own heart, and seeing that the luncheon was costing him nothing he was doing the thing very lavishly indeed. There was something almost regal in the way he spoke to the waiters. His manner was bland and florid, and, beyond all was the consciousness of the five-pound note in his pocket which Phillips had given him to pay for the repast. They sat for some little time, when the door was flung violently open and a large man in an impossible waistcoat came into the dining-room. Full-bodied and scarlet, he had an air of prosperity and in an aggressive way suggested money. Most persons in the sporting world were familiar with that huge personage in the striking waistcoat, for it was none other than Mr. Rickerby, of a firm of turf accountants, who advertised that they recognized no limit. In early life Mr. Rickerby, or Rick, as his friends styled him, had been a butcher. He had failed at that principally because he spent most of his time backing horses or arranging prize-fights. After he had passed through the Bankruptcy Court he began with a small silver book and, having a real genius for figures, together with a striking presence, an enormous voice and amazing audacity which amounted almost to simplicity, he soon made headway in his new profession. In a short time he took a partner who had been a smart accountant, and now had a suite of palatial offices in the Strand, where he kept a large staff of clerks, and where telephone messages were pouring in almost day and night. Rickerby was a leviathan, and though he by no means despised the small fish that came into his net, revelled in big bets and dramatic wagers.