Sport: Breeders, Place Your Bets

Bloodstock goes blue chip

The 115th meeting of horse racing's venerable summer camp at Saratoga Springs, N.Y., opened earlier this month as regular fans returned to their favorite spa. Once again hotels and restaurants are jammed with people who seem to have leaped straight out of New Yorker cartoons, and the jewel thieves who shadow the wealthy have put in their usual appearance. It would seem that nothing could disturb these genteel August rites.

But whoa! There is one thing. There has always been one thing: money. Even these curried folk can still be...

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