BACKERS IN DEFAULT.

Otago Witness, Volume 25, Issue 2321, 25 August 1898, Page 35

BACKERS IN DEFAULT.

English backers got an awful beating over the Epsom meeting at which Jeddah won, and Mr Joe Thompson writes that 12 professioiil backers between them failed for over six figures. The Australian had a splendid we3k on paper, but his debtors were £7000 short weight on settling day, and then be went to Paris and lost heavily over the Gran-1 Prix meeting. This, as "Terlinga" remarks, was pretty hard lines on a man who works as hard as does the old Leviathan. The papers nearly all comment on the disasters of backers at Epsom, and Mr Corlett givas a few instances of settlings which have been all against the ring. Ho says that the rinij was never so nearly broke as it waswh<m Blue Gown won the Derby in 1868. The big operators knew that after backing Blue Gown for £80,000 Sir Joseph Hawley had hedged all his money, while he was keepinh the big stakes for which ho had supported Rosicrucian and Green Sleeves. Armed with this information, they peppered Blae Gown a£ every opportunity, and the colt was a tremendous favourite with the public. "After the race," says Mr Oorlett, " >t was rare indeed to find a backer who had not won substantially on Blue Gown, and the ring was shaken to its foundations." Of 1870 Mr Oorlett writes: "Another by no means good Derby for the bookmakers w.is that of 1870, and this in the face of thn fact that the hottest favourite up to that time on record was beaten. All the makers of early books were heavy losers, the bookmaker i being misled by Mr Merry just as they were by Sir Joseph Hawley in 1868. Mr Merry took all the yearling and two-year-old books about Sunlight and Sunshine, but would not touch Macgregor. They there-fo-e laid Macgregor precisely as they had laid Blue Gown, and when on the day of the race 5 to 2 was betted on him they were in such a tangle that they dare not touch Lord Dudley's offer to lay £25,000 to £10,000 on him. This race finished the career of oae of the magnates of the ring, who was a great owner of racehorses."