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Murchison, Richardson Acquire Del Mar Track Plan to Buy Other Major Courses; To Build Boys Centers With Profits By LEON RASMUSSEN Staff Correspondent BEVERLY HILLS, Calif ., June 11. Clint Murchison and Sid Richardson, multimillionaire oil tycoons from Texas, today purchased controlling interest in the Del Mar Turf Club as the first step, according to Murchison, "toward buying all the major race tracks in the country for the avowed purpose of establishing boy centers in the major American cities to combat juvenile delinquency and help the under-privileged boys of America." Murchison said that this craritable plan, to be known as Boys, Inc., would receive 90 per cent of the net profits from Del Mar and other tracks as they acquire them. This charitable foundation, headed by Murchison, Richardson and several members of their families, needs the approval of the United States Treasury Dept., but Murchison, holding the first press conference in his fabulous career, Continued on Page Seven Murchison, Richardson Acquire Del Mar Track Plan to Buy Other Major Courses; To Build Boys Centers With Profits Continued from Page One said they expected this to be forthcoming. In acquiring Del Mar, a new board of directors was announced, with famous Marine General Holland M. "Howling Mad" Smith, now retired, appointed. president. In the appointment of the directors, attorney C. Ray Robinson, who handled the deal for Murchison and Richardson,said he believed the board was the most representative in racing, with men and women of established honesty and integrity and imbued with the best interests of the sport, accepting posts on it. These include, besides General Smith, L. B. Mayer, vice-president, who stayedon the board and is an owner and breeder; Mrs. Ann Peppers, an owner and breeder, who remained on the board; owner and breeder Rex Ellsworth, businessman Sam Dunham, wro appointment was hailed by the 22nd District Agricultural Association, lessors of the Del Mar property; Walter Marty, who was named managing director; owner-breeder Gordon Guiberson; Fritz Hawn, an Athens, Texas, friend of Murchison and Richardson, and W. E. Craven senior law partner of C. Ray Robinson, and Robinson. One vacany remains to be filled. Craven will serve as secretary-treasurer. It was also announced that Clive Becker, present general manager, Eddie Read, head, of publicity and John C. Burns, comptroller, would remain with the track. In gaining control, the Texans bought out the stock of the Alfred and Viola Hart Foundation as well as that of their stockholders. The purchase price as at 00 a share. The exact number of shares sold -was withheld for the time being, and Robinson said that a letter was being sent to all stockholders that they could receive the 00 price by presenting their stock certificates to the City National Bank of Beverly Hills. Hart, former president of Del Mar, made the following statement following the sale; "Alfred and Viola Hart Foundation, our family charitable foundation, has today sold its interest in the Del Mar Turf Club to Clint W. Murchison and Sid Richardson of f Texas. Other shareholders have the same opportunity under our agreement. I am doing this because I feel obligated to concentrate my time and efforts on the new banking institution with which I have been identified. "I am sure that under Clint W. Murchison and Sid Richardson the operation of Del Mar will be maintained on the same high level which my associates and I" have helped to achieved and that it will, continue under its new guidance to grow in stature as one of Californias increasingly impor-tnat major racing plants." Murchison and Richardson, two of the boldest of Texas bold oil barons, are well-known national figures in finance. Richardson is generally conceded to be the countrys richest man, while Murchisons mushrooming assets are estimated at 350 millions. His financial tree, of which oil is the roots and the trunk, branches out in all directions and most branches are said to be fruitful. His empire embraces nearly 50 companies, making out weekly pay checks to about 50,000 employes. Most recently Murchison and Richardsons names cropped up in connection with their financial and moral backing of Robert R. Young in his efforts to gain control of the New York Central Railroad. Murchisons penchant for investments finds him involved in nearly half of the states, Canada and Mexico in enterprises as various as candy making to oil pipe" lines. There is considerable speculation as to what the future of the Del Mar area holds with such intrepid money-men as owners. The expansive Del Mar rebuilding program, previously announced and slated to be completed before the 1955 season, will be carried out under the conditions of the sale.
