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CAVANAGH THE CZAR OF THE RING. Referring to the novel bets-ofC incident at Gravesend over the Yankee Girl-Beacon Light race Wednesday, the New York Sun says: "Sinee the betting ring was declared open and the. Metropolitan Turf Association was made to understand that as a body it did not control the speculative end of the racing game on the Jockey Club tracks, ringmaster Cavanaghs power has been gradually increased until "Wednesday it was clearly demonstrated that he was the boss. In future, therefore, Cavanaghs rulings caii be regarded as Until in all matters relating to the affairs of the betting ring. At the iequest of Cavanagh a dispute over a ,500 wager between L. A. Cella and a player named Morrison was turned over to him by the arbitration board of the Mets for adjustment. Cavanagh advised a compromise and the matter was readily settled on a fifty per cent, basis."