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NO DIVIDEND AT LEXINGTON LEXINGTON, Ky., Sept. 1. In a letter signed by Thomas Scott, vice president and general manager, preferred stockholders of the Kentucky Association, were today informed that it has become necessary that the dividend, eight per cent per annum, due today, be passed. The Kentucky Association operates the Lexington running track. The preferred shares have a par value of 00,000, held by approximately one hundred citizens of central Kentucky. The common stock is held in escrow for the American Turf Association, as successor to the Kentucky Jockey Club, which sold the plant to the local people for 00,000 cash paid and the balance out of earnings. The plant had not earned sufficient to pay for the common stock, which has par value of 5,000.
