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NEW ZEALANDS RACING CUT DOWN The final adjustment made between the New Zealand racing clubs in pursuance of the decision to cut down racing one-third operates from August 1. There will be 118 days of galloping races during the coming year, compared with 222 last year, ind thirty-nine days for trotting races, compared with fifty-nine. A total of 1S7 days trotting and galloping will probably cause several New Zealand owners and trainers to give Australia a trial. Sydney Referee.