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JOE FLORES NOW FIRST CHOICE Pasadena Stable Three - Year - Old Cut to Three to One in Agua Caliente Handicap Future Book AGUA CALIENTE, Mexico, March 4. Joe Flores, winner of the Speed and San Diego Handicaps and favorite for the Agua Caliente Derby, to be decided Sunday, was installed first choice in the Agua Caliente Handicap future book today. The crack three-year-old, which was recently purchased from the Pasadena Stable by S. H. Lee, of Oklahoma, was quoted at 3 to 1 in the big race this morning. Heavy play after his sensational work of Thursday caused ringmaster Zeke Caress to lower his price. Cabezo, 3 which will serve as running mate for Joe Flores in both the Agua Caliente Derby and Handicap, was also quoted at a lower price, and it would appear that this pair are considered the ones to beat in both races. Cabezo, quoted at 6 to 1 Thursday, dropped to 4 to 1 this morning and is now equal second choice with Dr. Freeland, Phar Lap and Reveille Boy. Although the Agua Caliente Handicap is over two weeks away, no less than seven horses are lower than 10 to 1 in price, which gives proof that in the opinion of the heads of the future book, the race promises to be a very open affair. As the future book is "pay or play," the majority of the bettors are waiting until the day of the race to wager, in order to make certain that their choices will face the barrier. Following is a list of the likely starters, given in the order of which they are most probable to go to the post. That is, the horse most certain to start is listed first and so on down the line. At the present writing it appears Joe Flores is a most likely starter, then in order came Cabezo, Dr. Freeland, Reveille Boy, Marine, Seths Hope, Phar Lap, Bahamas, Ervast and Alexander Pantages. Thirty-one horses remain in the field, but the ten mentioned seem to be the only ones to have a ghost of a chance, unless some outsider should suddenly be shipped in. Of the remainder of those on the grounds, but seemingly outclassed, are Blunder, Good and Hot, Foolhardy, Nacho, Scimitar, Tonto Rock and Whipper Cracker. The following are at either Miami or New Orleans and are not likely to be shipped: Lucky Tom, Bar-gello, Brown Wisdom, Hoops, Jimmy Moran, Lady Broadcast, Lightning Bolt, My Dandy and Tote. At Tanforan awaiting the opening of that meeting are Naishapur and Jim Dandy, while Up is at the Crofton ranch.