The San Francisco call., 1909-05-07
BATTLE ON
FOR TRACK
OWNERSHIP
Williams and Burns at Outs and
Former Seeks Control of
Jockey Club
Offers to Buy Stock at Par, but
Wants Two Years TO
Make Payment
Profits Have Been Big and the
Share Holders Are Disinclined
to Sell Holdings
Corporations Real Estate Said
TO Be Worth Par Value
of capitalization
.HERE is war in the New Cali

fIlERE - WdI III the NeW Odu-
fornia jockey club. President
= Thomas H. Williams and Vice
President Colonel Daniel NJ. Burns
are at outs
Treading or the heels of the legis-
lation which gave the knockout blow
to racing in California comes the story
of internal trouble that threatens
to split the jockey club wide open and
expose its inner workings to the world
outside
The falling out OF the two men who
have dominated racing in California
follows expressed dissatisfaction on
the part of Colonel Burns with the
manner in which the club has been
run under the Williams regime
There are other significant de-
velopments m the misunderstanding
between the two racing magnates.
Williams L. attempting 10 obtain
control Of majority of the stock
of the jockey club, aside from that
held by the Burns eOterie.
Williams has notified the stock
holders that no more dividends need
he expected on jockey club stock.
Williams has proposed to minor
stock holders that he take over their
holdings at par, paying 20 per cent OF
the value I'm cash and the balance In
two years, without interest, WiIIiams'
note being given as security and the
stock held I'm escrow by the broker
age Arm of Daniel Meyer.
williams has offered to buy Colonel
Burns stock on more favorable terms.
but Burns will only sell for spot cash.
Running through these transactions
is q thread of dissatisfaction that
binds them all together and causes the
stock holders to demand of Williams
a statement of the clubs financial con-
dition and at the same time to blame
him for the troubles that beset the turf
in California.
All of these things are giving those
in touch with the inner doings of
turfdom plenty to talk of nowadays.
when otherwise turf topics would be
very commonplace. with no racing
worthy of the name in progress or In
prospect on the coast.
1t is gossiped that while the friction
between Williams and Burns reached
an acute stage only recently. it has
been gradually developing for more
than a year. According TO a turfman
who processes TO be we'll informed on
the subject Burns believed that GER
tain changes in the policy of the jockey
club should have been undertaken for
the purpose of making racing less OF
a commercial enterprise and more of
a sport for sports sake. The con-
duct of the campaign IN behalf of rae
ing at the recent session of the legis-
lature. when the Walker-Otis anti
racetraek bill was passed. is said TO
have widened the breach between the
two magnates and to have been the
Immediate cause of the open rupture
which is alleged to have taken plaos
in the business relations of the pair
Stock Pooling Plan
According to report Williams and
Burns had been acting in harmony in
Jockey club affairs under a stock pool
ing arrangement entered into several
years ago, at the time that Williams
became master of the California turf.
after his notable contest for supremacy
with Prince PoniatowskL Together
they dominated the New California
Jockey club Williams and his wife
are credited with the possession of e5
per cent of the stock, OF the jockey
club. which is capitalized at s1,OO0.oo0.
in 10, 600 shares at the par value OF
500 each. 1t had been popularity
supposed that Williams interest was
considerably greater.
Colonel Burns, his partner. Clarence
waterhouse, and their Immediate con-
nections are said to hold about s7 per
cent of the stock John Condor of
Chicago is the largest individual stock
holder aside from the Williams and
Burns interests. He is said TO own
about 10 per cent His relations with
Williams has always been close. In
all. the jockey club has less than 100
share holders
So long as the turf was in flourish
ing condition and the stock holders re-