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CULVER CITY .RACE TRACK Dick Ferris to Turn Controlling Interest Over to Contractors Now Financing Meeting. LOS ANGELES, CaL, Jan. 3. Dick Ferris, president and general manager of the j Southern California Jockey Club that is conducting the present meeting at the new Culver City track, has made an arrangement whereby he relinquishes his controlling interest in the project at the end of the meeting to men who in return guarantee to finance the meeting for 100 days. Birch ONeal, the contractor who put up the buildings in sixteen days, and Earl N. Moore, oil magnate, are the men who will have a controlling interest in the Culver City race track proposition at the end of the one-hundred day meeting, provided they go through with their agreement to finance it to a conclusion. If at any time during the meeting Messrs. ONeal and Moore fail to meet the daily expenses, which with the purses to the horsemen are estimated at ,000 to ,000 each racing day, the controlling interest will revert back to Ferris. If ONeal and Moore go through with their financial guarantee to the end of the meeting Ferris, who controlled 51 per cent of the slock the day the meeting started, will turn over to them 25 per cent of his holdings. ONeal and Moore already have 35 per cent. That with Ferris 25 per cent will put them in control absolutely, and Ferris says if they go through with their agreement they are entitled to control. Ferris still is president of the company end general manager of the track, and will rtmain as such until the long meeting is finished. This is the situation as it stands, the gentlemen interested inform the press, and as it will stand, unless ONeal and Moore fail to keep on financing the track. It is said that Moore paid a 0,000 labor bill at the track and that ONeal furnished ,000 worth of lumber. It is understood that they were to receive 0,000 out of the Christmas Day receipts, but the intake at the gate did not run that high. Both ONeal and Birch say they. are perfectly able to finance the track for the full 100-day meeting and that such is their intention.
