One of the principal though non-sensational events of the Deauville season is the annual sale of thoroughbred yearlings. On the present occasion it has been any thing but successful. Lot after lot. has been withdrawn, nobody being. isposed to bid up to the reserve price. The plain truth is that every. one is cutting expenses down. The economic and financial crisis is world-wide. The crash in Wall-street, the drought in the Middle West, the trade depression in England, the troubles in India and China have all contributed to the prevailing gloom. At such a time the luxury industries are the first to suffer, and thoroughbred horses are certainly luxuries, While some successful stables occasionally make a profit by wine ning big prizes, to keep a string of horses is an expensive amusement, and even those who can afford to dulge in ft are reluctant to buy yearlings as an investment, or rat-liber as a speculation. The finest colt that ever stood on four lens must be coddled and trained for many months before he can be run, and anything may happen in the nicantime, thoroughbreds being extremely delicate.
On the other hand, when an owner purchases what may appear to be the best-looking and best-bred filly with an eye to future values asa brood mare, she may produce nothing but "duds." Buying yearlings is distinctly gamble. based on general lines in accordance with the discussion to the Mission, There would be no time to circul ,|ize members with the fresh poltts and it would be left to the Section to take the responsibility.
Text read from the printed page and cleaned; old type leaves the occasional error.