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THE aFFieiAE RACING PAPER Imencas 7W dtrfAority for Forty-Three Years ;i- NATIONAL ASSOCIATION OF RACING COMMISSIONERS 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. OlTxLIV. No. 305 CHICAGO, ILL., THURSDAY, DECEMBER 22, 1938 PRICE 25 CENTS