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INCREASE CAPITAL STOCK American Turf Association Adopts Recommendations of Board of Directors. At a meeting of the stockholders of the American Turf Association held Tuesday at the association offices in Chicago, over 80 per cent of the stock was represented in person or by proxy and the recommendation of the board of directors for an increase in capitalization from ,000,000 to 3,000,000 was approved. The new capitalization will comprise 0.-000,000 in common stock and ,000,000 in preferred. The latter sum will be available for treasury funds for the purpose of extension and improvement of the physical properties of the American Turf Association. Ambitious plans are in comtemplation by the American Turf Association and the construction of the track in East St. Louis is one of the leading aims. At Tuesdays meeting. Col. Matt J. Winn, i. president of the American Turf Association, i, presided. Other officials who were in attendance included Stuyvesant Peabody, vice-president of the American Turf Association, J and the following directors : A. J. Carroll, attorney for Churchill Downs ; Harvey Meyers, attorney for Latonia and Maurice Gal-vin, attorney for the American Turf Association. " Mr. Galvin also served as secretary of the meeting. Col. Matt J. Winn and Mr. Carroll departed for Louisville in the evening. Mr. r Winn will remain at Churchill Downs until : after the decision of the Kentucky Derby and will give complete attention to details necessary " to the opening of Churchill Downs. The report of the license committee as to " proposed changes in the rules was as follows : Your committee respectfully submits for ir "your consideration the following changes or r amendments to the rules: It is recommended that the first paragraph in of Rule 173 regarding "claiming races," be e amended by striking out the words : "All jl _ Continued on eight li page.. INCREASE CAPITAL STOCK Continued from first page. horses may be claimed for the selling price plus the gross money added by such association to a purse or stakes," and substituting therefor the words : "All horses may be claimed for the entered claiming price." It was the concensus of opinion of your committee that this amendment be made. 1. As a practical necessity for tracks such as Aurora, racing early or later in the season, when the dats or unfavorable weather contribute to the gathering of much ordinary horse material, necessitating the carding of race conditions catering to horses of that class. 2. As a c.earer understanding by the public of the actual amount at which a horse is valued. 3. As a definite guide for the racing secretary, who, when making race conditions, may fix the claiming prices so as to thow explicitly the full amount for which a horse is entered and for which it may be claimed. Racing secretaries generally appear to be in hearty approval of such change. Recommendati n is made to s rike out Rule 117, regarding declarations and substitute the following in lieu thereof : "When only eight horses or less are entered for a purse race, none shall be declared without the consent of the stewards, and then only upon payment of five 5 per cent of the first money." The only actual change in meaning from the present rule is the substitution of the word "horses" for the word "entries." The amendment is recommended principally for the reason that stewards differ in their construction of the meaning of just what constitutes an "entry" ; whether horses coupled form one entry or whether each such horse is an entry. The purpose of the amendment is to make this meaning clear. Recommendation is made to amend rule 118 by substituting the word "horses" or the word Jentries" in accord with the above change. H. D. Brown proposed an amendment to Rule 131, regarding apprentice licenses. It included many changes which the committee did not consider advisable. One member favored the amendment, but all others were of the opinion that the present rule was more satisfactory and would recommend that no change be made. Recommendation is made by your committee that the secretary of the Illinois Turf Association be instructed by you to publish monthly, from May to October, or as often as may appear to be advisable, a booklet or bulletin, showing the licenses granted, denied or otherwise disposed of ; a list of the authorized agents and by whom authorized ; the names of owners who have filed applications for colors ; the rulings of each association as officially filed, and such other matter as may appear to be advisable for the information and advice of stewards of the meeting, of the racing secretaries and other officers or officials of associations in general, and for promulgation to other turf governing bodies, if such be considered needful. Respectfully submitted. The License Committee. A
