AUSTRALIAN TURF.

Auckland Star, Volume LXVIII, Issue 282, 27 November 1937, Page 20

AUSTRALIAN TURF.

FIVE SHILLING TOTE. INQUIRY AT SYDNEY. DIVIDENDS TO NEAREST THREEPENCE. The State Treasury is inquiring into the desirability of a 5/ totalisator being ttetablishcd in the paddock at Rand wick. In conjunction with this, consideration is being given the possibility of dividends T»eing paid to the nearest 3d, thus reducing the amount deducted from the investments of the public. When the idea of a 5/ tote was originally submitted, an objection raised was that this would increase the fractions retained by the A..1.C, the dividends being calculated to the nearest sixpence. Now, however, all dividends are calculated on a 5/ unit of investment. Permission for a 5/ tote is a matter for the Government. The secretary of the A..1.C. (Mr. Rowe) agrees that it is what the public wants.

The Premier and Treasurer (Mr. Stevens) admitted last session that in the existing circumstances it is possible for the fractions retained by the club to amount to 1/10 in every £1 invested. It was quite possible, he said, that in a period of 18 years the fractions retained by race clubs might have amounted to £400,000.

Mr. Stevens agreed that a possible deduction of 1/10 in the £1 was "an imposition that should no longer be permitted."

The question of altering the fractions may be dealt with when the Government's promised bill to cut taxation on racing is introduced next month.

A recommendation of the Cabinet subcommittee on racing is that the total percentage (apart from fractions) deducted from the totalisator investments should be reduced from to 10 per cent, the Government taking 5 per cent instead of 9, and the clubs 5 instead of 3A.

With this alteration, however, the Treasury, instead of the clubs, would retain the dividend fractions. Treasury officials estimate that in respect of all. the metropolitan racing clubs the fractions average frfltn 1 1-3 to 2 per cent of the amount invested.

NO MORE LICENSES. PROPRIETARY CLUBS. POSITION IN NEW SOUTH WALES. The placing of horse"" racing on a non-profit making basis will be a feature of the new Gaming and Betting Act which the New South Wales Government hopes to introduce next year.

After a period of five years from the Act coming into force no more licenses will be issued to. proprietary clubs. Existing clubs will be paid for their assets, but subsequent profits will be used for improving courses, increasing prize-money or otherwise furthering the interests of the sport. The problem is simplified by the fact that existing proprietary race clubs generally are returning only small profits. It is not proposed that when allowance is made for assets any sum shall be paid for the goodwill value, the licenses, or for "watered" capital. When the proposed bill is passed, the idea is that clubs or associations will be formed which will not operate for profit and will take over the existing proprietary courses. The owners of the courses may be paid in interest-bearing debentures. These debentures eventually will be liquidated from the earnings of the courses under non-proprietary control. Capital and Profits. The position of the existing proprietary clubs in Sydney has been investigated by the Government, which is satisfied that the proposal presents no great financial difficulties. The paid-up capital and net profit of various clubs for 1036, as shown by the balance-sheets, is as follows:—■ Victoria Park Racing and Recreation Grounds Co. —Subscribed capital, £242,739: net profit for 1030. £r»(i«n. Moorefield Race Club, Ltd. —Capital, £135,000; profit, £8006. Rosehill Racecourse Co. —Capital, £105,000; profit, £8292. Rosebery Racecourse Co.—Capital, £140.000; profit. £4943. Ascot Racecourse and Recreation Grounds, Ltd.—Capital, £288,021; profit, £8331. Canterbury Park Racecourse Co.— Capital. £94,500 (for six months ended December 31, 1930), £1972. Kensington Club is in a different position in that it does not own its course, but holds it on lease from the Government. The present lease will expire in November, 1942.

SOME STAND IT.

MOST DO NOT.

TWO'YEAR-OLD RACING.

While two-year-old jcacing is detrimental to many horses, there are exceptions in every country. Seabiscuit, America's champion handicap honse up to a mile and a quarter, started 35 times at two years (says "Pilot").

In Kngland less is asked of two-year-olds than elsewhere. Mid-day Sun, this season'* Derby winner, who was not a top-notch two-year-old, had eight runs at that a<*e> while the St. Leger winner, Cliulmleigh, ran only three times.

Of this season's best Australian three-year-olds, Avenger had six runs at two years, Hua eight, A.jax six, and John Wilki-K eight. As a two-year-old, John Wilkes' first run was on October 3, and

Hua's on October 31, while Ajax made his first public appearance on January 16, and Avenger on March 11.

I do not know the date of Ajax's foaling, but Hua nnd John Wilkes were thrown on October 18, and Avenger on October 2».

Although Ajax is not to he a competitor, the St. Legers (Melbourne and Sydney) will not be lacking in interest. They should decide the supremacy of Hua or Avenger as stayers. Before his rapid development in the spring, J. Holt was looking to Avenger to be at his best in the autumn, and as Hua also gives the impression that the next few months will do a lot for him, no certainty attaches to which will be the better.

, I incline to Avenger. The manner of Lis A.J.C. Derby win impressed most racing men with the idea that he was bound to make a first-class stayer. His defeat in the Caulfield Guineas did not occasion any surprise, it being generally recognised that he was meeting a more brilliant galloper in Ajax, but if he had repeated his Sydney form he should have defeated the latter in the Victoria Derby. Ajax and Hua ran to Randwick form, but Avenger did not. While I have no doubt thafc'"next season we shall see Ajax winning up to a mile and a half, his defeats at that distance at Randwick and Flemington point to his being comparatively better at a shorter distance. In announcing their intention of avoiding distance racing in the autumn, Ajax's joint owners have evidently arrived at the conclusion that he is still slightly deficient -as a stayer. A BARGAIN. ARABIA'S GOOD FORM; - ■ Bought for f4OO less than two months ago, Arabia has now won two races in two start* for his new owner-trainer, F. T. Cush. His success in the Clyde Handicap at Rosehill recently (says a Sydney writer) brought his winnings for Cush to £370. In addition some solid betting wagers have been collected. But there is another side to the story. How does it feel to lose a fortune on a horse, sell him for little more than a song, and then see him develop form that may carry him to first-class ranks ? His former owner, B. Franklin, say*: "Naturally, I wish I still owned him. I always thought Arabia would prove a good horse, but Jie failed me so often that I tired of him. However, there have been features about Arabia's form that have pleased me greatly. Fred Cush has been a great friend of mine for years and I am really glad to see Arabia come good for him. Both at Randwick and at Rosehill I had the stable commission for the grey and I backed Arabia myself both times. I did not invest as heavily as when I owned him, but I have had two good wins over him and he doesn't owe me much now."