HOW THE TROTTING HORSE IS BRED. 537 



I was in honor bound to maintain its good name in the minds of 

 the people, while every publication in the whole country was 

 laughing at it, and that this was my duty as well as my interest 

 until the time came for a final separation from it. True, when 

 I made these efforts to uphold it I had to put my tongue in my 

 cheek, for I knew that its management, like "the Old Man of 

 the Sea,*' was riding it to death. As my business continued to 

 grow and prosper, I began to consider the propriety of forming a 

 joint stock company of breeders, to own and control the property 

 absolutely when I was ready to retire. Greatly to my surprise 

 this proposition gave offense to the two gentlemen who managed 

 the association, for I had not alluded to that in any possible 

 manner. When explained to me it became perfectly plain that 

 the offense was in the fact that making a legal corporation to 

 own and control the property would leave no "position" for the 

 president, no salary for the secretary and no further need for the 

 N. A. of T. H. B. 



The Wallace Trotting Eegister Company, in due time, was in- 

 corporated under the laws of the State of ~N"ew York, and com- 

 menced business October 1, 1889. The publications of the com- 

 pany were the "Register," the Monthly and the "Year Book." 

 The capital stock of the company was fixed at one hundred thou- 

 sand dollars, and as work came pouring in upon us more rapidly 

 than we could handle it, labor became a burden and I had no 

 time to distribute this stock among the breeders of every State, 

 as I intended. This was the condition of things in the office in 

 the following spring when, to my horror, I discovered I had been 

 robbed of something over fifty-four thousand dollars and the thief 

 escaped to Cuba. The blow was a stunner, and messages of 

 sympathy came pouring in from all quarters, with many tenders 

 of pecuniary assistance all of which were thankfully acknowledged, 

 but all tenders of assistance were declined. 



The capitalization at one hundred thousand dollars, and the 

 robbery of fifty-four thousand dollars, and the company still not 

 crushed, gave Mr. Brodhead a new view of the possibilities of the 

 future, and inspired him with a new hope that he might yet reach 

 the ambition of his life and gain control of the registration of all 

 the trotting pedigrees of the country. Without much violence 

 to the processes of Brodhead's mind we can imagine the way in 

 which he reasoned out the problem. "This has become a valua- 

 hle property and is bound to be still more valuable," he doubtless 



