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PROGRESS AT SHEEPSHEAD BAY. New York, December 19. The new Shcepshead Bay course will be a beauty, and something on the order of Morris Park. Improvements are mainly on the bottom turn, the old track, which was one mile and a furlong, remaining as it was. The new part will have a turn close to tho yearling track turn and the racing will be part of the way on the Futurity stretch. The track itself is mainly completed, with the fence posts up. A few stables are to be removed yet, as they obstruct the view from the grandstand. The stretch on the new track will be easily three furlongs. No matter how bad. the weather gets . now, it cannot interfere with the work, as the grading Is now going on. The moving of stables will take up the rest of tho winter, as they will all be re-arranged to face one way.