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KENTUCKY TRACK MANAGERS , Matt Winn for Latonia and Chas. F. Grainger at the Downs. . -; Robert L. Baker to Have Charge at Lexington Plans to Distribute Stock. LEXINGTON, Ky.. March 7. It can be authoritatively stated that Matt J. Winn will manage the Latonia race track, under the ownership of tin Kentucky Jockey Club; that Chas. A. Grainger will manage Churchill Downs, and that Robert L. Baker will manage the Lexington track. All of thus was definitely determined at the meetings of the principal subscribers for the stock in the new corpora-tiou in Louisville this week. Winn is to give up his connection with Laurel and to establish his home at Covington. Winn is also to have a seat on the board of directors of the Kentucky Jockev Club, the president of which is yet to be elected". It is now said that P. J. Hanlon, who is to be on the board of directors, is asking that some other person better known to racing and longer identified with the turf than himself be chosen to that responsible and honorable post.. The names of Messrs. Johnson N. Camden, Edward F. Sims and Lawrence Jones are now being mentioned as possibilities for the presidency. Lawrence Jones is one of the owners of the Pastime Stable, and: he is, aside all that, widely known in the horse show world, ne is one of the most substantial business men in Louisville, and for that matter in Kentucky. Messrs. Camden and Sims are widely known in the turf and business worlds., -The aisposap-of-the stock has- been placed: in the -hands of Henning Chambers of Louisville, who Is to have a seat on the board of directors. It lias been agreed with Mr. Chambers that S250.000 of the ,000,000 preferred stock Is to be retired during each of the first two years of the life of the corporation, which makes the remainder of it absolutely secure as to the value of the four plants for real estate purposes in the event of any unexpected untoward action against racing The remainder of the preferred stock is to In; retired within four years. The par value of the preferred stock Is 00, but for that sum one share of preferred and one-quarter share of common is sold, the preferred paying seven per cent per annum and being retired at 05. None of the common stock except that which Is sold with the preferred is to be oh the market until the preferred is disposed of and a value has been established for the common, of which the issue authorized in the articles of incorporation is ,000,000. Payment for the Churchill Downs plant was made entirely in .stock. The price agreed upon was 62,500, and for this 2,500 shares of preferred and 6.250 shares of common were given. Thus the New Louisville Jockey Club paid $.10 per share for the common. Of course, it got with its 2,500 shares of preferred 625 additional shares of common. This left 7,500 shares of preferred and 13,125 shnrcs of the common to be disposed of. All of the preferred, with the exception of about 2.000 shares, has been sold and the remainder is being rapidly subscribed. It is expected that all of it will be sold anil issued by Marcli 25. A large number of shares were subscribed here today by horsemen, who had refused to touch the proposition as long as it was apparently under the original proposal that there was some 1919.sh00,000 of prolit to be taken by somebody on the sale of the common stock at per share.
