World pulled to a walk and Col. Hogan, which had been eased up some time. THIRTY-EIGHTH DERBY 1912 Worth, the favorite, won the Kentucky Derby at Churchill Downs this afternoon, just beating a heavy rainstorm, and by so doing saving the day for the moving-picture operators. The Kentucky Derby of 1912, the thirty-eighth renewal of the classic stake event, went to the horse which nine out of every ten horsemen and turf patrons conceded to have the race at his mercy. He did not win as easily as many expected, but he won, just lasting long enough to get the money and the honor from a dark horse. Duval, which would have paid 20 to 1 had he popped in front, was second, and Flamma, the only filly in the contest, was third. The time, 2:09-2/5, is about four seconds slower than that made by Meridian, the winner last year. Worth won by a neck, while Duval was five lengths in front of the filly, Flamma. Worth established his claim to the three-year old championship for the 1912 season, although he will have to win many more races this year to hold that title. At the present time he is the best of all three-year olds. To-day, just as last season, there were many doubting Thomases regarding his ability and class. It took the celebrated match race at Latonia last fall to convince these persons that he was the best two-year old out in 1911, and this spring the Kentucky Derby race is the one which sweeps aside all chances for an argument. The colt was dead tired when the race was finished, and had to be urged hard in the last furlong. He was "prepped" for this race, and lasted long enough to win it, which ends all arguments what might have happened had the race been 20 or 30 yards more. Shilling, who rode him, announced before the race that he did not intend to have mud slung in his eyes, and he kept his word. The beaten ones in the contest had no excuse; they were beaten fairly and squarely, luck never entering into the result in the least. There were no unusual incidents connected with the preliminaries to the big race. The crowd during the interval between the ending of the third and the time to go to the post in the big event, wended its way to the paddock and stood several deep around the railing, each and every one anxious to get a good look at the contenders. Promptly at 4:30 they left the paddock and paraded down past the judges' stand. Flamma, the only filly in the race, leading the procession, but she was a little shy and on several occasions refused to come down in front. Wheelwright, with Byrne up, followed with free Lance, sporting the colors of George J. Long, the Louisville turfman, leading Guaranola, which was directly in front of the favorite, Worth. Sonada and Duval brought up in the rear in the order named. The clouds were hanging quite low and it was doubtful if the race would be finished before the rain fell.