In the first scene Toby Tyler is supposed to be selling concessions at the circus, but he sits down to watch Mademoiselle Jeanette and Monsieur Ajax performing their acrobatic horse routine instead; the last shot shows Jeanette and Ajax in different costumes because it is a shot from a later scene in the movie where Toby Tyler performs the act with Jeanette. Therefore the last shot of their routine has Toby Tyler performing instead of Ajax.
Wires are clearly visible, attached to Toby as he does bareback riding stunts.