Jarret and Lexington arrive at Ten Broeck’s home in New Orleans. Jarret tells Ten Broeck there is “no honor in pushing a horse who ain’t fit” (198), declaring himself against the decision to race Lexington. Ten Broeck justifies his decision by the significant winnings he could earn in answering a challenge he cannot resist. At Metairie, Ten Broeck introduces Jarret as the deputy trainer. Jarret will be able to come and go as he pleases, and will have the authority to act according to his own judgment, without prior approval. Jarret’s quarters are a fully furnished private room to himself.

Jarret instructs Henri Meichon, Lexington’s new jockey, in the particular aspects of Lexington’s physiology, temperament, and personality. On race day, Jarret is overcome by his confidence in Lexington’s ability to win, despite his concerns. He searches the crowd for Scott, who agrees to make a bet on Jarret’s behalf. Lexington easily wins the first heat, driving up the odds ahead of the second. It is plain to Jarret that Lexington’s opponent, Sallie Waters, is not fit to continue, and should be withdrawn. Ten Broeck dismisses Sallie’s condition as her owner’s problem. Lexington defeats her easily; she dies that night in her stall.