Ethereal outguns Godolphin in Melbourne Cup New Zealand`s Ethereal became only the second mare in history to claim a Caulfield/Melbourne Cup double when she edged out Godolphin hope Give the Slip in the US$2million Melbourne Cup today.For the second time in his career, gallant English stayer Persian Punch held on doggedly to take third in Australia`s greatest horse race, some six lengths behind the winning pair after racing wide throughout.In an action-packed race run in rain affected conditions, Richard Hills took Give the Slip - an outsider at 30-1 - straight to the lead from start.Turning for home Hills sent his mount four lengths clear, prompting premature celebrations from Godolphin trainer Saeed Bin Suroor.'I felt sure he was going to win,' admitted Suroor. 'He ran a bit keen in the race, too hard, I think, in the middle stages.'But I`m very happy, and he was beaten by a better horse. She`s a great horse, the winner, and it was a great ride from the jockey.'Jockey Scott Seamer brought the winner, afirm second favourite at 10-1, to the middle of the track in the straight and she gathered pace quickly to pick up Give the Slip in the shadows of the post and win going away.Her trainer Sheila Laxon was the first woman to officially train a Melbourne Cup winner. Her husband Laurie Laxon, now trains in Singapore and won the 1988 Melbourne Cup with Empire Rose.New Zealand`s Grannie McDonald can claim the unofficial title of the first woman trainer to win here when Catalogue won in 1938 but women were not even allowed into pubs in Australia then and her husband had to be registered as the trainer.Ethereal`s owner, leading New Zealand bloodstock agent Peter Vela, said after the race he would have considered scratching his horse if the track deteriorated any further after consistent rain overnight.He went on to pay tribute to his trainer.'Sheila has broken in so many horses for us I`ve lost count. When Laurie moved to Singapore I had no hesitation in putting Sheila in charge of this wonderful mare.'Jockey Seamer has taken all before him this Spring. Prior to Tuesday`s triumph, he had won last month`s Caulfield Cup, the traditional lead-up to the Melbourne Cup, as well as the Group One MacKinnon Stakes on Saturday on La Bella Dama.Seamer walked the Flemington course the night before, a move which proved crucial.'I knew where the best part of the track was out wide, so it was just a matter of being patient when Give The Slip kicked clear because I knew he`d start to weaken after the pace they`d set,' said Seamer.'When I beat off Persian Punch I thought victory was ours,' said Hills. 'But in the last half furlong he started to labour. But the winner won very well, she gave me a start and a beating.'I`m very proud to have finished second. This is one of the top five races in the world and for a jockey this is what we strive for. We`ll go one better next time.'English trainer David Elsworth was also proud of Persian Punch, which was heavily backed by punters at the course and started at 12-1.'He ran his heart out,' said Elsworth. 'He`s a very resolute galloper but if he has an achilles heel its his early pace. He found himself wide again today when they settled down and that`s hard work.'But when the hurt comes he doesn`t quit - he`d die for you this horse!'Elsworth said he would consider a third attempt at the race.'But we`ve got an Ascot Gold Cup to win then we`ll see how things pan out,' he added.Of the other international entrants Caitano (50-1) failed to stay the testing two mile journey and weakened to run 13th.Godolphin`s other hope, the better fancied Marienbard (16-1), disappointed trainer Saeed Bin Suroor and jockey Frankie Dettori to finish a poor 16th after being prominent on the turn.