The sun. [volume] (New York [N.Y.]) 1833-1916, 1915-04-01
SHEEPSHEAD BAY IS
SOLD TO SPEEDWAY
Cash Payment Of 100000 Is
Made, Closing S2,24O,OOO
Deal for Track.
WORK BEGINS ON MONDAY

The sale Of the Sheepshead Bay race
track was consunmated yesterday at a
total price Of s2,?lo,ooO. A cash pay
nent OF 100000 was made by the new
Sheepshead Bay Speedway Company to
the Coney Island Jockey Club, closing
the deal which had hung fire for sew.
eral months.
Actual opera tons toward the new de-
velopment of the big race course will be-
gin next Monday. A score of workmen
will be set 20 work removing all signs
OF the horse 10 make way for the auto
mobile. The track is TO he turned into
the worlds greatest automobile course.
Though the course TO be laid out for
automobiles will he half mile shorter
than the one at indianapolis, II will he
constructed so As to permit greater
speed James g. Nichols. au automobile
dealer who il promoting the scheme,
said yesterday that automobiles could
take the turn at "A speed of iio miles an
hour. Drivers are compelled to reduce
speed considerably taking turns at the
indianapolis mJto 'drome. The turns of
the new track viii be banked to twenty
four feet. Those at indianapolis are
only fifteen feet high
The Sheepshead Bay auto course will
be two miles In circumference and eighty
feet wide. made of concrete and steel.
The concrete will he mixed with an in
gredient expected to prevent speeding
machines from making ruts in the track.
Next to the track itself the big feature
Of the enterprise will he the grand stand.
which will he the LARGEST ever con-
structed In this country, IL was said
yesterday 1t will seat an army of
100000 persons without crowdng. This
gigantic structure will be OF steel and
concrete.
II IL planned to have the stand built
for Labor Day. when the motordro me
will be opened with series Of auto
mobile races among leading Amer can
and foreign drivers The event IL ex-
pectcd to bring together more OF the
worlds crack drivers than any previous
event.
The space inside the big auto track is
to be used for other sporting events,
football games and other winter sports,
as well as aviation meets in summer
The Sheepshead Bay Speedway Cor
Doration was Incorporated At Albany "A
few weeks ago with a capital of S2.5O0,-
coo by dummy directors. Between now
and Monday a meeting will be held.
when officers and a board OF directors
will be elected. The stock OF the COM
pany, which is divided into $1,000, 900
preferred and s1,500.0DO common, has
been Subscribed. Racetrack men, former
owners Of the property and Wall Street
interests have invested more than $780,
600 In the operation. The heaviest in
vestors are automobile dealers here and
In other cities as far West as Chicago.
The Sheepshead Bay track in its day
was one OF the best race courses In the
country. Many of the greatest events
In turfdom were held there up to tho
closing of the track by the an,i-betting
law. which killed horse racing in this
State When several efforts to repeal
the law failed the track was put up
for sale In 1911, and shortly after 1t
was reported sold to Il realty company
for development cut up into lots. Then
Henry Ford, the automobl. maker. was
reported to he after the track for an
Eastern plant and experimenting station.
This rumor developed the deal concluded
yesterday, which was arranged by An
son T. Hurd. About nifty horses belong
ing 20 August Belmont now are quar-
tered at the track