Del Mar Passes Into New Hands: Jay Paley, Joseph Schenck Acquire Controlling Interest In Southern California Track, Daily Racing Form, 1948-06-12


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Del Maf Passes Into New Hands HandsJay Jay Paley Joseph Schenck Acquire Controlling Interest Iri Southern California Track TrackLOS LOS ANGELES Calif June 11 At a reported cost of 2000000 Joseph M Schenck veteran movie executive and Jay Paley member of the board of directors of the Columbia Broadcasting Company and a prominent turfman yesterday gained controlling interest in the Del Mar race track from Henry Crown of Chicago and Arnold Grant of Beverly Hills and New Rochelle N Y Thus the smoldering rumors of a sale which have been circu ¬ lating for some months finally caught fire fireAmid Amid the many reported sale reports for the past months there was also bicker ¬ ing among yarious officials having a hand in the tracks control and operation Under the new setup Schenck and Paley say they contemplate no change in the man ¬ agement of the plant at least for the present presentThe The new owners also said that the ap ¬ proaching summer meeting opening in August would proceed as scheduled Schenck also said that many of the coun ¬ trys leading stables would send their horses to the Turf and Surf session This naturally includes the extensive stable of Paley which he races under the nom de course of the Jaclyn stable with his nephew Leon Levy and Levys wife wifeAim Aim of New Purchasers PurchasersIn In discussing Del Mars future Paley exuded considerable enthusiasm declaring that it was the goal of the new owners to make it the Smartest Little Place in the West As Schenck and Paley have both made their success in bringing entertain ¬ ment to the public it is likely that they will make good at their new venture ventureDuring During the last few seasons Jay Paley and his nephew Leon Levy have been large purchasers of thoroughbred yearlings and the colors of their Jaclyn stable have been prominent throughout the country In addition to the purchase of Del Mar with Schenck long a business associate Paley has ambitious plans for breeding thoroughbreds on the West Coast CoastSchenck Schenck was president and had a finan ¬ cial interest in the Agua Caliente Baja California Mexico course from 1932 to 1935 1935A A meeting of the board of directors of the Turf Meets the Surf Track will be held in the near future and it is believed that Paley at that time will don the mantle of president of the club

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