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GREAT STARS OF AUSTRALIAN RACING. "Terlinga." the well-known, able contributor to "The Australasian. " apparently does not set the best of the horses now running in Australia on a very high pedestal. He was asked to give his idea of how Poseidon, winner of many races, including the A. .1. . Derby. Eclipse Stakes. Caulfield Cup. Victoria Derby. Melbourne Cup, etc.. compared with sacfe earlier celebrities us Carbine. Abercorn and Wakeful. He has ustimated them, over two miles, as follows, on the assumption of the race being strongly run: Carbine. 14.5 pounds: Abercorn. 143 pounds: Wakeful. 138 pounds; Poseidon. 131 pounds. When it js recalled that Posedion. shortly before " Tcrlinga" made handicap, had won the Caul-liebl tuji at the second lime, carrying 129 pound*, and that he gave eighteen pounds and a beating to Apologue, who suliseqiently won the Melbourne • up. it is ]da in that Poseidon must be a good horse. When unplaced to Apologue in the race last mentioned, tic sriaaer was receiving from him no less than thirty six p ds. and it was. no disgrace to tail Banter uch I heavy burden as 143 pounds. Carbine Is She. only horse in the last forty years that ha- ear I tad more tfcaa 14b pounds to victory in a MeilMMirie- Cup. his slices tieing gained under 145 sonants. Prnhahbj most people here will be rather snrprtoed to find Aboreorn rated as Carbines equal, but be a?aa also I sui:i her. .mil the late Tom snalaa always said lie was the bent layer bo ever rode. Abercorn was a big winner, aud in hi- four seasons an t ti - turf Ids twenty four successes were worth aaarlj $ 5,€tdt.