view raw text
BRIGHTON BEACH TRACK SITUATION Rumored Salo of the Property Denied hut May he True Reasons for Such Action New York August 10 The story of the sale of the Brighton Beach Itacing Association course to a realty corporation is denied by Charles II Hyde the attorney for the Brighton folks Mr Hyde telephoned W A Eiigemaii the owner of the property who requested the lawyer to issue a formal denial denialThe The story was widely circulated Saturday night and found many believers who know Engemans entanglements in a business way Some of the 107 obligations of the Brighton Beach Association to horsemen have but recently been settled and Engcman has been in sore straights to find money to carry on his real estate and quarry properties This is the reason why Brighton Beach did not stand to its guns and run off its stakes as did Brook ¬ lyn Coney Island and Saratoga If the track is sold however It will not affect the racing of this season The Brighton Beach 1508 dates will be filled in any event and should the track drop out its valu ¬ able dates apportioned among the other clubs would relieve the racing situation a great deal Notwith ¬ standing Iho denial it need surprise no one to hear that soldTo the Brighton Beach track has been sold To well informed racing men it seemed that if Mr Eiigemaii sold the Brighton Beach track that he would be disposing of a very valuable property It is known in turf circles that the Brighton Beach Kacing 1007While Association cleared nearly 308000 in 1007 While such profits may never again be realized by a racing association men who are familiar with the earning capacity of real estate in Long Island say that the course by the sea if well managed would pay from twelve to fifteen per cent in any year and that such an amount is in excess of any interest plotsThe that could be realized from villa plots The big profits that the Brighton Beach track has earned for so many years caused several turfmen chief of them being James K Keene not to sign a release permitting the association to declare off its valuable stakes this year Keene has said while he will never sue for the value of the stakes he condemns the action of the Brighton Beach Racing Association for not living up to its agreement He knows to a cent how much the association has cleared and believes that if the property had been well managed it would have been able to live up to its contracts with horse owners
