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MAY REDUCE CAPITAL STOCK I COVINGTON Ky January 12 Capitali ¬ zation of the Kentucky Jockey Club may be reduced The present capitalization is 5 000000 One million of preferred stock was retired Monday Of the remaining 4000000 it is planned to convert 2000000 to pre ¬ ferred stock leaving 2000000 in common and effecting a 1000000 reduction in capi ¬ talization talizationThe The common stock now has a par value of 25 per share the preferred stock is to have a par value of 100 per share and to carry a dividend of S per cent per annum This project for financial rearrangement will bo submitted to a stockholders meeting scheduled for January 15
