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STATUS OF NEW ORLEANS FAIR GROUNDS DETROIT Mich June 7 Joseph A Mur ¬ phy as trustee of the group which pur ¬ chased the Fair Grounds at New Orleans from E R Bradley has sent a statement of last winters business to the members of the trust trustHe He recently spent a day at the Idle Hour Farm in conference with John P Sullivan and Mr Bradley in respect to the next payment which was due on June 1 asking for an extension of it until economic condi ¬ tions could improve Mr Bradley stated that while he was willing to extend the time for the payment to July 1 he would expect it on that date As a consequence judge Mur ¬ phy has given the members of the trust three alternatives One is for all the mem ¬ bers of the trust to match their original sub ¬ scription which he as a member of it is willing to do which would amply finance the proposition The second is to sell to the highest bidder the equity which the trust now holds in the property and surrender the contract with Mr Bradley to the pur ¬ chaser The third is to return the property intact to Mr Bradley and liquidate both the trust and the Crescent City Jockey Club both of which have no debts
