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; ; Colorful Derby at Epsom May Draw Record Field Nearly 500000 People Will See Next Wednesdays 172nd Renewal LONDON, Eng., May 23 UP. A field of 40, the largest in the history of Britains most popular and famous horse race, appeared set today for Wednesdays 173rd running of the Derby Stakes at Epsom Downs. The winner of the mile and one-half event will earn a record 20,587 pounds sterling 7,643.60. The prevous high of 4,480.80 was received by last years winner, Arctic Prince. Two American-owned colts, Worden n. and Fiery Torch, are entered, but neither is rated much chance of giving the-U. S. its first victory in the race since 1914. Like Americas mile and one-half Belmont Stakes, the Derby is considered a true test of three-year-old speed and stamina. As in the Belmont, -each colt carries 126 pounds, but unlike the American race the British classic is not run over a level course. The horses start at the bottom of a hill on the horsehoe-shaped track and climb steadily on the green turf for the first four furlongs. Then the course drops toward the famous left-hand Tattenham corner, four furlongs from the finish. From there, cheered by one of the largest free-show audiences in the sports world, the thoroughbreds drum over nearly level ground except for the last 200 yards, which are 1 slightly uphill. Except for the grandstand and a number of adjoining small stands, the race can be watched from the rails or any part of the Downs without payment because the track runs over ground which is the property of the nation. The event usually draws between 400,000 and 500,000 and is of world-wide interest because of the countries which run sweepstakes on the result. Several million sterling wili be wagered on the race by the clouds of spectators, most of whom come to mingle in the circus-like atmosphere. Facing the grandstand, on the hill around which the race is run, the spectators will mill around gaily decorated tents, bookie stands, fried fish stalls, ice cream barrows and shooting galleries. Further afield, an amusement fair, complete with merry-go-rounds, will provide a rainbow of colors to contrast with the green of the winding track. No Derby would be complete without its gypsies. Their brightly-painted caravans now have been forced to camp well away from the track, but this will not prevent their occupants from mingling with the fans to tip "certain" winners or offer to tell your fortune. The grandstand will be jammed with representatives of many nations, with dukes, earls and high-ranking officials and horse owners occupying the most exclusive section of the stand. This year, however, there will be no member of ;the Royal family present because the court still is in mourning for the late King George.