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W. F. AXTON SERIOUSLY ILL LOUISVILLE, Ky., April 2. The condition of Wood F. Axton, millionaire tobacco manufacturer and racing patron, suffering from a heart ailment, was reported as very grave this afternoon. Mr. "Axton has been in serious condition at his home in Skylight, Ky., near here, for several weeks. He is one of the largest breeders in the country and races two stables. His thoroughbred breeding operations are carried on at pretentious Wild-wood Farm, near Louisville.