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Senator Kennedy Tells How He Stood Up in the Saddle f NEW YORK, N. Y., May 7.— Sen. John Kennedy, of Massachusetts, explained here last night at the Overseas Press Club dinner how he lost the 1956 Democratic nomination for vice- . president. Obviously referring to last Satur- i days Kentucky Derby, the Senator said : : "I stood up in the saddle, and Ke- j fauver put a big nose between me and 688 votes/ j The remark brought down the horse -wise house. Willie Shoemaker, riding Gallant Man in the Derby, stood up in the sad- -" die at the sixteenth pole thinking he had reached the finish line. He lost , the race by a nose. He seemed to be in position to win before his mistake. Kennedy lost the nomination by only a i few votes to Kefauver.