from for only four moaths. for the lamented death of the poor old 

 ady on November 16 last brought it about. The Hampton stud was 

 broken up at the same time, a proceeding whicii was deemed ill-advised. 

 The Duke of Beaufort soon after sold otf both his racing and breeding 

 studs, and many others since then have had to curtail expenses. Before 

 then cime the general reduction in the fees of high class stallions, with 

 allowances to be made to owners whose mares had proved barren, which 

 I had said was imperatively necessary {vide pp. 421, 422). 



Financial Position of Bacing.— The entries for the classic races 

 of 1896, which closed in August, 1894, and those for the autumn 

 handicaps, which closed about the same time, prove how correct I was in 

 what I said about the stability of the Turf at present. Osving to a great 

 increase from abroad the classic races have more entries than usual, but if 

 so the patrons are almost entirely contined to oar wealthiest owners — 

 scarcely a single small man is to be found among the lot. On the other 

 hand the autumn handicaps of last year showed a lamentable falling 

 off. In former years these ever-popular events were supported by the 

 rank and file quite as much as by the great owners, but in 1894 the 

 absence of the former was as conspicuous in the handicaps as in the 

 classics. Strange to say, in Ireland it is quite the reverse. Very few 

 of our wealthy country gentlemen now patronise tither r^.cing or 

 steeplechasing, nearly all our support comes from the middle classes — 

 not so formerly, however. Thus is shown, in addition to what I say 

 in the appendix and elewhere, how racing in England is going to 

 the bad, despite the fact that never was the sport nearly a^ universally 

 popular as it is at present, nor had we ever in the anaals of the Turf 

 such attendances at meetings as we have had the last two or three 

 years, that at last Ascot being hugely greater than waa ever before 

 known. At Waterloo Station on the Cup day 900 tickets more were 

 issued than upon any other Cup day since the railway was opened. 



Let not these records delude the authorities into the belief that racing 

 is in a good monetary position, for it is 7iot, and I write again what I 

 wrote at Christmas, 1892, and appears in the appendix, that if some- 

 thing be not doae by the .Jockey Club to relieve owners of expenses- 

 the days of racijuj are numbered, and if ten time^ as many outsiders- 

 were to go to meetings as g) at preseat the downfall would not be 

 averted for twenty-four hours ! 



What have the Royal processions, the drags, the luncheons, the ladies^ 

 lawn, or the ladies' dresses to say to the hills which the owners have to 

 pay ? But they have a great deal to say to the profits of the Race 

 Companies ! 



If our rulers should, of their clemency, take the matter up, it would 

 be well for them to recognise the fact that we have, at present, too many 

 horses, too many meetings, and too many races a day. Fancy eight 

 meetings in the year, even at Xewmarket, extending over twenty-nine 

 days, with six or seven races on each ! The consequence is, that with 



