Stock in New Kentucky Jockey Club: Louisville Brokerage Firm Offering it for Sale-Circular Issued Telling Plans, Daily Racing Form, 1919-02-17


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STOCK IN N EW KENTUCKY JOCKEY CLUB Louisville Brokerage Firm Offering It for Sale Circular" Issued Telling Plans. LOUISVILLE, Ky., February ,10. ,ireulars are being distributed by a Louisville brokerage firm which state that the new syndicate which, is to control the four Kentucky race tracks -Latonia, Lexington. Douglas Park ami Churchill Dowus will be capitalized ut ,000,000. of .which one-third will ltd preferred and the other two-thirds common stock. JThe syndicate will be incorporated under the title or the Kentucky hockey Club. - The circular in question is indorsed by such well-known men as Senator Johnson N. Camden, Judge Rolert AV, Bingham, Alvin T. Hert, James B. Brown, Lawrence Jones and Patrick J. Hanloh. Tliey indorse the proposition" because they believe it will protect the thoroughbred breeding interests of -tlie- utare; According to tlie circulars, tlie company, when organized, will be a consolidation of the four racing associations in Kentucky. The preferred stock is seven per cent cumulative, which is to 1k sold at 00 a share, with twenty-five per cent of common stock as a Iranus. The. niaiu ibjeivt. in organizing tills company has has been to nut racing on the highest plane in the State of Kentucky and to give tlie people of this state the opportunity of becoming Ktockholders. Therd will-Ihj" a linking fund, beginning. June 1, 1919,. provided for the preferred stock that will re- tire at least fifteen per cent per annum, tlie company having tlie right to call this preferred stock by lot at 10. on any dividend date. It is also provided .that no mortgages or prior Hen Scan be placed on tlie properties or any increase 6f preferred Block miide without . the. consent in writiug of at least seventy-five per cent of t lie preferred stock. Transfer of the four Kentucky tracks will be completed by March 1, it is said. : i ;

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