Sunday Washington globe., 1902-03-30

as Turf Speculation has probably more
scurious surroundings than any other phase
of financial risk. A few years ago it was
limited to the comparatively few wealthy
supporters Of racing the thoroughbred
horse. and not until late in the last century
practically after the War of the Rebellion,
did it begin to obtain the popularity aud
generality of the present day, when, some
where in this country, racing is carried on
from January to December 81, with only
Sundays intervening.
Naturally, turf speculation has increased
until, rightly regarded. il has become the
backbone of the running and trottiug inter-
ests, which in New York state alone pay
tax of over SIooOoo yearly to be distri-
buted among the agricultural interests, be-
sides furnishing a medium for food con-
sumption represented by over 10, 600 horses,
used directly or indirectly in the thorough
bred or trotting ranks
There is Que curious phase surrounding
turf speculation which apparently does not
exist to the same extent IN stocks, or any
other phenomenally risky form of fnan-
iering and this is that, while almost any
method of operating will certainly produce
a certain amount of what are termed win
uers, the season round, varying from S to
As per cent, few people can handle them so
as satisfactorily to solve the problem of
making a profit without enormous risk.
This, as a rule. is because the individual is
weaker than his system Of operation. and
his nerve fails at the crucial point which
must come sooner or later, and the second
point is that very few understand how to
adjust their initial risk to the capital at
command In other words, while the iudi-
vidual investing $4,000 in a corner grocery
store would not expect to make more than
81, 900 clear profit the FIRST year, the average
turf speculator would expect to make that
amount per month, and generally courts
disaster along those lines. Hence the enor-
nous army who declare-either through
ignorance or through i'll success-that il Is
practically impossible to make money at
the races. while the fact remains that men
of unusually good business ability are doing
so right alOag, and have been for years.
The Dwyer brothers, owners of the mighty
Hanover and many other great horses,
broke up lucrative butcher connection of
a number Of Brooklyn stores to follow the
turf" George z. Smith commenced Life as
a cork cutter ia Pittsburg. and is to-day said
TO have deposited sufficient cash to insure
himself an annuity Of $50, 900 a year all
Aste, the produce exchange bootback. has
been connected with the turf for years, aud
last year sold his two-year-old colt Nastur-
uum to William c. Whitney for $4,000.
There are scores of others who might be
quoted-successful men on the turf because
they would have been successful anywhere.
The turf is not, decidedly not, home for
the INDECENT and incapable in all other lines.
but to the acute, clever business man is
proved to pay a larger percentage Of profit,
at a more reasonable risk, than ever the
stock exchange operations to the Wall
street expert.
Two mediums work to success-iutuitive
personal knowledge and analysis of a very
high order, and what must, for lack OF
better term. be termed mathematics The
latter, consciously or uncousciously. gov
erus all types of successful turf specula-
tion.
The 6rst man to demonstrate successful
methOdical play as applied to chance was
De Moivre, who lived about I64o and wrote
the wonderful Doctrine of Chauces. "
which ran through four editions. This
really marvelOus work treats exclusively of
applying method to games Of chance and
from one Of these methods he demonstrated
how 1t could be successfully and acce ptably
applied TO the iusuring of human life,
drafting out a table which. in later years,
was the keynote Of the present magnificent
bene6ceut institution Known a. "Insur-
auce" ia all IT, varied forms Que OF his
ideas was 60 Wage- On A steadily increasing
scale formed from a basic I, 2. g. placed in
a vertical column che top and bottom being
added together 70 make a the unit Of
speculation n won ir va cancelled, and
the next risk va, 1Aturaiiy q" II won.
new series was commeuc=d II losses
came, the amount 0f -acH was placed az the
bottom of The columu and this steadily in.
creased the wager unt.l successive wins
and their lnCellatiDns again wiped all the
column figures 1ut This has been adapted
with remartahle success % turf specu latiou,
and il will be readily recognized as the i'm
surauce puaciple pure and simple Of a
steadily increasing wager according % the
age" Of the series the 5Uccesstve policies
being cancelled and paid a., they become
due. TITUS method rs A 5ure winner. exec pt
when many 3uccessiVe losses are followed
by series Jf Vfni which p4g Jess than
even money
With th. exception Of rSP} aud 1000. for
many years the average )t wluu.ug hrsi
favorite- AZ the cracks ArDuud New York
has beeu shghr'y over - per cent. for the
season.. tnd Tor the past 40 years the aver.
age prlce hla rotat.d % C. Here IS a self
evident proposition Wager So Or every
fayors- tunug rh- season. There were
about 3D1 races th6 mears that Of the 81,
wagers 45o lo5r s., Boo and the $50 whict
won at 90 & uetted $500. 5ra net profit o
81 .6O1. The obvious reflection is WHY
not play fly0rites aud make mluey'" Thil
is NOT Sd easy m practice IA ,he hr5t piac,
several horses started AR odds 1f - 7o Z e
10, etc, lod very few people cO1ld be in
duc-d to make such plays i1 the next
the odds shown on the jdici4. charts ar,
taken iusr when the horses are a. the post
ard although the chart may 5aoW Eghelber
9 to s lmp7 to 5. the aetna rag quotation
on che 50 ODD 3laces will be- u many case
Just the REVERSE aud betweea -l- -wo th
average punter is sure 20 make a mistake
This phase occurs repesredly duriug th
selsJn ia actual play i1d with t1e cu-iou