JOINT-STOCK HORSES

Rotorua Morning Post, Issue 5278, 14 December 1946, Page 4

JOINT-STOCK HORSES

^LMOST everything nowadays can be procured on oasj^ payment plans, but the newest field which the system has invaded,' or in which it is intended to operate if the idea catches on, is a sqrprising one. A young man of Gheshire, England, has propounded a scheme by which millgirls and mannequins, colliers and clerks, can become Pillars of the Turf, and mayhap, owners of a Derby winner. The plan is beautiful in its simplicity. A sufficient number of people combine to find .the purchase price of a racehorse and to contribute monthly sums for its training, transport, and entry fees. Forty small business men, , says the origiqator of the idea, could own jointly a iB2000 thoroughbred for an initial outlay of £58 10s and £8 10s a month thereafter after the first six months. The figures come down to 13s 3d down and 3s 3d a month for 200Q people Touying a horse for £1000. Racing clubs might welcome the idea, for an additional attraction would be organised visits to the course by the several owners who could find the time and the enthusiasm to travel for the thrill of cheering one's own colours home. However, there are quite a few formalities- about owning a racehorse that have not -been mentioned in this advance prospectus for ,proletarian prosperity. In the first place, unless the o.wners went through the process of forming themselves into a company'with a board of directors and delegated full responsibility to them, all the contributors would have to be registered and would be subject to the requirements and penalties of the Rules of Racing. What an awkward position for a multitude of respectable folk if by some mischance the runner and its connec-tions were disqualified ! While a horse was doing well, no complaints would be heard, even although the %takewinnings and comjpsite investments were divided into exiguous proportions, but if, on the pther hand, the animal did not come up to expectations, the enthusiasm qf some owners would grow cold and if the remaining shareholders were unwilling to carry the extra burden, the "asset" would have to be disposed of, ieither to another bunch of optimists or to a milk vendor. In the event of a purchase proving quite unusually sucqessful, part of the proceeds would include a number of trophies and their disposal might be the caus.e of some little difficulty, although it might be feasible to auction or raffle them among members, the proceeds to go into the pool. Highly speculative enterprises, such as gold mines, have an irresistible attraction for some folk and it would not be surprising to learn that the proposition outlined had met Wjith a flattering response. At anyrate, the promoter, who naturally would be the trainer of the communallyTOwned gallopers, would be assured of a full stable and a decent livelihood as long as he could contrive so to place his charges that there was not too much competition among them. The onslaught of 2000 disappointed and enraged partowners of a favourite which had been beaten by a stable-compan-ion would be a fate^ too fearful to contemplate.