Tom Watson's Magazine, Vol. I, No. 3, May 1905Various
History
Tom Watson's Magazine, Vol. I, No. 3, May 1905
Various
United States -- Politics and government -- Periodicals
The situation would be amusing did it not demonstrate the power of money.
To the average mind it would seem as if the constitutional convention had
barred all kinds of gambling, particularly gambling on race-tracks. Yet,
under the fostering care of the Racing Trust, the volume of gambling at
race-tracks is at least thrice as great today as it was in 1895. Before
the convention met the Racing Trust was permitted to do business for five
months in the year; now it does business for seven months. Under the
Ives Pool law, which was wiped out as vicious, the tracks were limited
to thirty days of racing; now the Jockey Club does as it pleases in the
matter of dates. Under a law which is, upon its face, unconstitutional
because it discriminates, the Racing Commission, a state institution, has
the power to issue or refuse licenses. The Racing Commission is under the
control of the Jockey Club, and the latter is the ruler of the racing
associations. The Jockey Club, of which Mr. August Belmont is the head,
is lord of all it surveys in the metropolitan circuit, to say nothing of
the Bennings race-track, in which a majority of the stock is owned by
Mr. Belmont. Racing began at Bennings on March 23, and its dates are not
included in the seven months of racing in the metropolitan circuit.
In this circuit there are seven tracks, not counting the Buffalo track,
which is controlled by the Racing Trust. The track at Morris Park, the
most picturesque race-course in the United States, has been relegated
to obscurity, as it was not owned by the Racing Trust, but was leased
at an annual rental of $45,000. Belmont Park, which is owned by Mr.
August Belmont, the head of the Racing Trust, has taken its place. The
associations which are controlled by the Racing Trust are capitalized as
follows:
Westchester Racing Association (Belmont Park) $1,500,000
Queens County Jockey Club (Aqueduct) 700,000
Metropolitan jockey Club (Jamaica) 550,000
Coney Island Jockey Club (Sheepshead Bay) 525,000
Brooklyn Jockey Club (Gravesend) 500,000
Brighton Beach Racing Association 300,000
Buffalo Racing Association 200,000
Saratoga Association for the Improvement
of the Breed of Horses 50,000
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Total $4,325,000
Public-domain text, read in full here on John Shaqi.
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