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NATIONAL ASSOCIATION OP RACING CO MMISSIONERS OFFICIAL PUBLICATION Trade Mark Registered U. S. Patent Opfici. Copyright, 1938, by REGAL PRESS, INC. Reproduction of any matter contained herein without written permission expressly prohibited. VOL. XLIV. No. 87 CHICAGO, ILL., TUESDAY, APRIL 12, 1938 PRICE 25 CENTS