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THE OFFICIAL FACING PAPER Americas Turf Authority for Forty-Three Years NATIONAL ASSOCIATION OF RACING COMMISSIONERS OFFICIAL PUBLICATION Tradb 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. 309 CHICAGO, ILL., TUESDAY, DECEMBER 27, 1938 PRICE 25 CENTS