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THE OFFICIAL RACING PAPER Americas Turf Authority for Forty-Three Years BandringS Form NATIONAL ASSOCIATION OF RACING CO MMISSIONERS OFFICIAL PUBLICATION Trade Mark Registered U. S. Patent Office. Copyright, 1938, by REGAL PRESS, INC. — Reproduction of any matter contained herein without written permission expressly prohibited. VOL. XLIV. No. 123 CHICAGO, ILL., TUESDAY, MAY 24, 1938 PEICB~25 CENTS