Ca-operative buying often proved the death-blow to extortion and the writer has no qualms about borrowing an idea which he is told. thas been expounded by a prominent Aocal racing man, It does not apply particularly to Shanghai, but woul operate equally anywhere. His ieeestion is this:—A race club, oF: two. or more combined in places: where they exist in the so can say approximately how many, @riffins the members will require in year, The club then should send out its own agent to buy a mob sufficient for the year's demand, or divide it in two for spring autumn if that is considered the more convenient. The mob would be brought down and kept at the club's expense, say, for a month, during which time the ponies would be fattened up and trained. When in reasonable condition, the discards would be weeded out and subseri tion griffins selected, and the rest would be put up to auction for purchase by members only.
The propounder of this scheme professes to have gone very carefully into all costs and has not under-estimated any liablitios, which sounds probable, for the information is that he reckoned $100,000 for the keep and training of 900 ponies for month, which must be quite twie much as would be necessary, on his figures he shows very stantial profit and this he suggests should be distributed Fro rata among the buyers of Ponies, on the argument that it would be unnecessary and inadvi able for a club to do more than pay its own expenses.
Text read from the printed page and cleaned; old type leaves the occasional error.