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P. J. HANLON FOR FIRST PRESIDENT LOUISVILLE, Ky., February 25. Articles of incorporation filed by the newly- orgnnlzed Kentucky Jockey Club, which will control the four big race tracks of the state Latonia, Douglas Park, Churchill Downs and Lexington were signed by Lawrence Jones, P. J. Hanlon and A. J. Carroll. The latter is the attorney for the association, while Mr. Hanlon will likely be its first president. Mr. Jones is a prominent member of the syndicate. Each of them holds at least ,000 of the capital stock, which is placed at ,000,000. Of this sum ,000,000 is preferred, bearing interest at tne rate of seven per cent per annum, while there will be ,000,000 of common. According to the papers the purpose of the new owners is to conduct race meeting and improve the breed of the thoroughbred horse. While the greater portion of the stock has been underwritten by the syndicate, over ,000,000 was placed in the hands of brokers last week, and it is said that most of this has been purchased by owners and breeders. J. E. Madden of Lexington, probably -the best known breeder and owner in this country, is said to have been a large purchaser of the stock. No official announcement of the new plans will be made until the tracks have been finally taken over. Strong pressure is being brought to bear on both Mr. Hanlon to accept the presidency and John Hacbmelster to remain as manager of Latoola.
