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MAY WITHDRAW ON LOCATION LOUISVILLE, Ky., May 5. — A strong possibility that only eight colts would start in the Kentucky Derby appeared imminent here late today when trainer Roy Waldron stated he would ask Mrs. Ethel V. Mars, owner of the Milky Way Farm horses, for permission to withdraw the stables On Location. Waldron said it was his belief the son of Teddy and Cinema wasnt up to Derby calibre in his present form, as he had been hurried in his preparation and to start him might prove injurious. He added, however, that he would have to overcome Mrs. Mars natural desire to see her colors represented in the classic.