It was a fact that among the large party on board the Penobscot, the boats of the firm of Ramsay and Son were just then at a discount, and those of the Newport builders at a corresponding premium. Donald was grieved and vexed, and trembled for the future of the firm of which he was the active representative. But he figured up the results of the race, and when the captains of all the yachts had come on board of the judges' boat, he announced the prizes and delivered them to the winners, with a little speech. The silver vase was given to the commodore, with liberal and magnanimous commendations both of the yacht and her captain. The marine glass was presented to Edward Patterdale, as the winner of the second prize, with some pleasant words, which did not in the least betray the personal discomfiture of the chairman. There was a further ceremony on the quarter-deck of the Penobscot, which was not in the programme, and which was unexpected to all except the officers of the club.
"Captain Laud Cavendish, of the Juno," said the chairman of the judges, who stood on the trunk of the yacht, where all on board, as well as those in the boats collected around her, could see him.
Laud stepped forward, wondering what the call could mean.
"I find, after figuring up the results of the race," continued the chairman, glancing at the schedule he held in his hand, "that you are entitled to the third and last prize. By carefully timing the movements of your excellent craft, and by your superior skill in sailing her, you have contrived to come in--last in the race; and the officers of the club have instructed the judges to award this medal to you. I have the honor and the very great pleasure of suspending it around your neck."
The medal was made of sole leather, about six inches in diameter. Attached to it was a yard of stove-pipe chain, by which it was hung around the neck of the winner of the _last_ prize. A shout of laughter and a round of applause greeted the presentation of the medal. Laud did not know whether to smile or get mad; for he felt like the victim of a practical joke. Miss Nellie Patterdale stood near him, and perhaps her presence restrained an outburst of anger. Mr. Montague, the father of the commodore, had provided a bountiful collation in the cabin of the Penobscot, and the next half hour was given up to the discussion of the repast. Laud tried to make himself agreeable to Nellie, and the poor girl was persecuted by his attentions until she was obliged to break away from him.