Sport: Doc's Gold Mine

The five-year boom that had made gold mines out of U.S. horse tracks was petering out. Back in the barns, the "hot-walkers" and exercise boys joked about it: "The suckers [race-trackese for the betting public] are running out of money." Even touting was getting tough.

Florida's Tropical Park had cut purses and pared expenses to keep from finishing its recent meeting in the red. Seeing the handwriting on the wall, rich and prosperous Pimlico announced that the value of the Preakness would be lowered from $100,000 to $75,000 this spring; Belmont Park had done likewise with its Belmont Stakes (leaving the Kentucky...

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