The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1901-09-04
STAKES ARE PUT UP
FOUR HUNDRED THOUSAND DOL
LARS WAGERED ON RESULT
OF YACHT RACE
ODDS ARE FIVE TO THREE
English Syndicate Puts Up $780,
900 on Shamrock Against $780,
600 of Pittsburg Money Bet
ON Constitution.

PITTSBURG, Pa, Sept. 3.-The great
international yacht race bet of 100000 be-
tween an English syndicate, represented
by Walter ]. Kingsley, of England, and
a group of patriotic Pittsburgers, repre-
sented by William r. Muslin, was finally
arranged this afternoon. The entire sum
was deposited in the hands of the stake
holders, Mr.. Kingsley turning over $780,
COO in British bank notes, and Mr.. Mus
tin giving a certified check for $3.50, 1000.
What is said to be the greatest bet in
history was thus safely consummated.
Both Mr.. Muslin and Mr. Kingsley ar
rived in Pittsburg this morning, Mr..
Kingsley coming from New York and
Mr.. Muslin from Asbury Park. Mr..
Muslin at once put Mr.. Kingsley in COM
munication with his principals who were
speedily assured that $150,000 of British
money was awaiting their convenience.
Mr.. Kingsley, on his side, agreed to
certified check for the full American side
of the wager.
AS the name of Darr, Moore and Bridon
had been used repeatedly without war
rant in the papers of the country as the
probable stakeholder, the conference was
held in the Office of that firm. The
partners went into the matter and de-
cided that as theirs was an investment
business and stakeholding not in their
line they must decline to hold the stakes.
InSy, however, OlO suggest the name Oh
a citizen prominent in financial circles
and who is known as far as London, as a
possible stakeholder. This gentleman, on
being approached consented to be the
stakeholder on the express condition that
his name should be withheld from the
public, as he does not care to share in
the publicity now enjoyed by the Pitts
burgers who crossed in the Deutschland
The bank notes and checks were careful
tory. Mr.. Kingsley's credentials were
examined. with the same result. The
stakS is to be paid within one week after
the concluding race the place of meeting
to be New York. The wager is simply
$150,000 to $3.50, 900 that Shamrock lifts the
cup. There are no conditions as to acci-
dent. Both Mr.. Muslin and Mr.. Kings
ley the brokers for their respective syn
dicates, will receive handsome commits
sions. Mr.. Kingsley is to get per cent
of the whole amount in case Shamrock
wins, and 21a per cent of $150,000 in the
event of her losing. Mr.. Kingsley was
glad to be relieved of the responsibility
for the thirty-one 91,OG0 Bank of Eng
land notes he has carried on his person
since leaving England, Aug. 23.
Mr.. Muslin also was glad to conclude
the affair, which he engaged in as a
matter of business, but which has gained
him so much undesirable publicity and a
prominence In the sporting world alto
gether unexpected.
Mr.. Mustin's compensation for his
share in the arrangement is 5 per cent
of $250,00O, which was paid to him as
soon as the wager was conSummated this
afternoon. The name of the stakeholder
is the one closely guarded secret in the
bet. The names of the men composing
the syndicate are also kept from the pub
lie. They are all well known Pittsburg
gentlemen said Mr.. Muslin, "but for
obvious reasons their names are being
withheld. They are backing the Ameri-
can boat because they anticipate another
victory for the Yankee shippers. How
ever, If the Englishmen should take the
cup away they would not turn a hair.
They have the spirit of true sportsmen.
I have acted only as the broker in ar
ranging the bet and now my work is
finished
HAS MORE MONEY.
NEW YORK, Sept. 81. Montgomery
Smart, of the produce exchange, received
a dispatch from j. H. Kingsley, the
agent Of the English syndicate who
placed $150,000 on Shamrock at Pittsburg
today, saying he was ready with another
$150000 at the same odds, or half that
sum. Mr.. Smart Immediately commune
Gated with a Broadway broker who ar
ranged the former wager, and has since
put up $4,000 against $1,000 that the
Shamrock will not lift the oun