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. I 1 ; ; 1 ■ I A DISTINCTION WITHOUT A DIFFERENCE. The eager speculators who accepted as long ago , as last August the ridiculous odds id ." to 2 about I T .1 Tetrarchs winning the Derby thai is yet to in-run, have now to pay for their tolly, as their clinu 111.11 will n .1 give battle. As the contract was "play or pay." hi- backei- are the losers. Sonic of 1 them, when spring rumors suggested ihat all was not well in the horse-, training, protected them selves to a pertain exteal by negotiating with a , business concern which was willing to back the . probability of his Starting in the Derby. The pro reeding was called effecting insurance, bat the pro cedare wi - thai of betting that in- would run. In . the outcome they lose to the bookmakers and win from tie- Insurance companies. There mav be soma . real difference between ln-itin on the result ami on a start, bin it is n-,t discernible to the comprehen- I -ion of tie- average man. Certainly, be cannot nee that those who 1I1 tin- one thing should be pal in jail, while the other Is regarded as a wise ha pn-cautloa. Nor has anvhndy beea bold •-, sjh lo . attempt lo define the distinction between tin- two „ transactions Denouncing In- one ami ignoring Ibe other is not a conviaciag method of dealing with II the matter. Francis Nelson In Toronto jllobe.
