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LATEST DERBY "BLOWOUTS" LOUISVILLE, Ky., May 5.— The scheduled starter in the Kentucky Derby had their final exercise at Churchill Downs this morning, five of the ten entrants indulging in short "blowouts" or speed sharpeners. The longest "breeze" was given to Technician, which was sent five furlongs, stoutly restrained, .in 1:03, while Viscounty and Challedon stepped a half mile each. Both going easily, Viscounty was timed in :50 and Challedon in :51%. El Chico uncorked .a snappy three-eighths in :344,i and On Location breezed a similar distance in :37%. Johnstown, the Derby favorite; Heather Broom, T. M. Dorsett, Xalapa Clown and Challenge were confined to long, easy gallops.