It was an exciting finish. Early, with a length and a half to the good, was ridden down the stretch as though the race had already been won, when within the last sixteenth H. Booker brought up Judge Himes and in a merciless finish Early who had lost his stride by the overconfident Winkfield, was beaten three-quarters of a length by the practically neglected colt. The day was perfect. From the South drifted an invigorating breeze, bearing the fragrance of sprouting foliage on the nearby hills, of which the green slopes of Sugar Loaf and Iroquois afforded a delightful rest to the eyes bewildered by a maze of gorgeous costumes and myriads of beautiful faces, banked tier upon tier in the grand stand and club house terrace and representing the fairest of Kentucky's womanhood. The track was fast. The six colts were not kept long at the post, and after some ten minutes consumed in getting them in line, the flag went down and the Derby was on. When Starter Holtman gave the word the colts were almost at the fretful line and the jockeys found Woodlake of the McDowell entry hugging the inside rail with the others well bunched and Judge Himes a half length away. They raced in this position past the stand, Bad News being third, Early fourth and Bourbon fifth, while Treacy brought up the rear. When they made the lower turn it was evident that Helgesen on Woodlake wanted to make a runaway race of it, for he had increased his lead to two lengths. Bad News had moved up to second position with Judge Himes a neck away, while Early still maintained his position of fourth, Bourbon being fifth and Treacy a half dozen lengths in the ruck and out of the race. When the colts had been straightened out on the back stretch the canary jacket of Jockey Winkfield emerged from the rear and with an unusual burst of speed.