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SOME TIMELY OBSERVATIONS. New York. July !. It is not likely that Hot Shot will race again. He broke down badly in his right foreleg in Thursdays race behind Agent. Oiseati is working fast at Gravesend and will soon be out again, probably in one of the overnight events to qualify. Jennings Ingham is one of the Californians which will soon win suuong the selling platers. The Ralney colt, John Marrs, which has not yet made good here, will soon do better. His work Is excellent. Ilylands colt. Monopolist, takes his training impressively at Sheepshead. Ills stride Is frlctlonless and lie shows line speed. That good mare, Tangle, is about ready to get her share of racing prizes among the horses of the lirst division. I Sewell at Belmont Park is about on edge again and shows supreme speed in his work.