Word: mutuels
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...James M. Cain to Stendhal. Subscribers to the Wall Street Journal angrily reported that their copies were being stolen from in front of their office doors. No New Yorkers were more dismayed by the strike than the numbers-game players: the payoff number is currently derived from the total mutuel take at Maryland's Pimlico race course, a figure that conveniently is carried by the daily press...
Publisher Loeb's combative instincts have also resulted in some notable crusades by the Union Leader. In 1955, for example, when lawmakers opposed an increase of the state's share of pari-mutuel receipts, the paper printed the names of 42 legislators who were on a racetrack payroll. But Loeb himself derives his keenest joy from an editorial page that ranges acrimoniously from "gulliberals" to Detroit ("overgrown, overdecorated, over-expensive U.S. cars"). "Newspapers," he maintains, "should be run for fun. not profit." From the Manchester Union Leader Publisher Loeb gets both...
...Horseplayers all over the U.S. groaned to learn that Postmaster General Summerfield has forbidden the use of the U.S. mails to Mexico's Caliente Future Book. Otherwise restricted to on-course pari-mutuel betting or illegal off-course bookmakers, Caliente's bettors could formerly mail a bet to the Mexican book months in advance of such big stakes as the Garden State or the Kentucky Derby, pick their horse from a long list of possible entries at odds as high as 1,000 to 1, get back 10% of their bet if their horse simply started...
...fourth straight year (and fourth time in thoroughbred racing), U.S. horse-players bet more than $2 billion. Of the $2,231,528,140 total wagered at pari-mutuel windows in the 24 states where on-course betting is legal, the states themselves took a $164,418,294 bite. Most voracious were the New York State tax collectors, who swallowed $43,177,361, more than one-quarter of the national tax total...
Ignoring the caterwauling protests of Governor Earl Long, the Louisiana house of representatives last week left ol' Earl's incendiary tax proposals (TIME, July 2) in ruins. Rejected by the legislators: Long-backed measures to boost state levies on sulphur, natural gas and pari-mutuel betting. Scheduled for similar treatment: an administration bill increasing taxes on timber and pulp...