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CHARLEY O. IN FINE FORM LOUISVILLE, Ky., May 18.— Charley O.s prep for the American Derby advanced another notch when the crack son of Hour-less and Clonakilty, breezed three-quarters on the fast Downs track this morning. He was timed in 1:16. The Eastman estate three-year-old has been doing marvelously well since the Kentucky Derby and trainer J. T. Taylor has hopes that he will turn the tables on Head Play in the Washington Park race.