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, MARYLAND RACING PROFITS TO BE CUT BALTIMORE, Md., September 23. Profits of owners of the four one-mile race tracks in Maryland hereafter will be limited to 10 per cent of their capitalized value. All other funds, after deduction of operating expenses, taxes and the states share of 15 per cent of net profits, will be devoted to improvements. The pari-mutuel cut of 5 per cent and breakage, and the present admission fee of .50 will not be changed. This announcement was made by the Maryland Racing Commission, following the reaching of final agreement with representatives of all four tracks. Under the new terms something like 50,000 or 00,000 will be diverted from profits to improvements, it is estimated by Jervis Spencer, Jr., a member of the commission. Limitation begins this year, thus affecting the profits of last springs meetings and those of this fall.
