With few new contenders emerging, Carry Back was an overwhelming favorite to complete the Triple Crown in the Belmont Stakes on June 3. He was sent off at odds of 2/5 in front of a crowd 51,586 which included former President Dwight D. Eisenhower. Globemaster went into the lead, but in contrast to the Derby and Preakness, the early pace was unusually slow. Carry Back was well back in the early stages, but on this occasion his late charge failed to materialize and he finished seventh, fifteen lengths behind the 65/1 outsider Sherluck. As he had done after the two previous legs of the Triple Crown, Price sent a case of champagne to the press box. The accompanying card read, "You hailed me in victory, now drink to me in defeat – Carry Back". It was subsequently revealed that the colt had been carrying an injury to his left front ankle.