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NECESSITY OF WEIGHT-F0R-AGE RACES BY EXILE. LEXINGTON, Ky., November 11. The indeterminate character of American racing, what with the all too early retirement of Man o War and the victory of the eight-year-old Pif Jr., carrying the trifling impost of 100 pounds, of the Latonia Cup Handicap, was never more apparent than at the present and the necessity of -wellTendowed welght-for-age cup races, absolute, if the thoroughbred horse, as bred in this country, Is to take corresponding rank with those bred elsewhere. Man p War would next year, if kept in training, be absolutely in the hands of the handicapper. As matters stand there are now practically no cup races in which the horse can take his part, meeting his fellows under weight-for-age conditions. Hnndicaps are but mans opinion of. the ability of horses over a given distance to handle weight, and this is forcibly brought home by the victory of the leniently treated Pif Jr. in the Latonia Cup Handicap of last Saturday. Racing I have always understood to be carried on as a healthful, invigorating amusement for the public and as an effort to determine the relative racing merits of the participants, and this the manner of the development of the thoroughbred horse. Handicap victories determine nothing.