Nan Tristram understood all this and smiled at it, just as she understood that to absent oneself from the Polo Club Races in Cattle Week would be to send in one's resignation from the exclusive social circles to which she belonged, a position quite unthinkable for one who sought only the mild excitements which pertain to early youth. The noon following the ball, and all the disturbed moments which it inspired, found Nan on the way to the Polo Club Races. Her party was riding, and it was an extensive party. There were some twenty and more saddles. Luncheon had been sent on ahead, catered for by Aston's Hotel at Jeffrey Masters' expense, one of the many social duties which his election to the Presidency of the Western Union Cattle Breeders' Association entitled him to undertake during the Cattle Week. It was a gay party, mostly made up of young and prosperous ranchmen, and the girls belonging to their little world. Nor among them could have been found any one more brightly debonair and attractive than Nan Tristram. There was never a sign about her of the disquieting thoughts of overnight. Such things might never have been. Her eyes, so soft and brown, were sparkling with that joy of life which never fails in its attraction even for the most serious mind. She sat her brown mare astride with the easy grace of a born horsewoman. Her equipment lacked no detail in its comparison with that of the other women. Bud's warning on this point had fallen upon willing and attentive ears when he had handed the girl a signed blank check. And the old man had found ample reward for his generosity in the rivalry amongst the men for his "gal's" escort. The only shadow which fell across his enjoyment had occurred when he beheld Jeff leading the cavalcade at the side of Mrs. Van Blooren. But in Nan's case it seemed to give not the smallest qualm. Her one single purpose seemed to be to obtain a maximum of enjoyment at the side of young Bill Dugdale, a college-bred youth of more than ordinary repute as a prosperous cattleman. The day was fresh for midsummer. The sky was ruffled with great billowing white summer clouds, and a cool northwest breeze was coming off the mountain tops. The whole world about them was assuming that tawny green of the ripening season, and the trail was sufficiently dusty for its abandonment in favor of the bordering grass. But if midsummer reigned over Nature, Spring, fresh, radiant Spring was in the hearts of those seeking the mild excitement of Calthorpe's race-track. Nan and young Dugdale laughed and chattered their way in the wake of the several couples ahead. Dugdale's desire to please was more than evident. And Nan was at no time difficult. Just now she seemed to enter into the spirit of everything with a zest which sent the man's hopes soaring skyward.