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THE OFFICIAL FACING PAPER Americas Turf Authority for Forty-Three Years l 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. .VOL. XLIV. No. 307 CHICAGO, ILL., SATURDAY, DECEMBER 24, 1938 PRICE 25 CENTS