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Clark and a group of prominent Louisville gentlemen met at the Galt House on June 18, 1874 to prepare articles of incorporation with the actual filing for the Louisville Jockey Club and Driving Park Association taking place on June 20.
To fund the construction of the track, Clark raised $32,000 by selling 320 membership subscriptions to the track at $100 each. Eighty acres of land, approximately three miles south of downtown were leased from Clark's uncles, John and Henry Churchill. A clubhouse, grandstand, porter's lodge and six stables were all eventually constructed on the site for the opening of the track.
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For his inaugural race meet, Clark designed his three major stakes races, the Kentucky Derby, Kentucky Oaks and Clark Handicap, after the three premier races in England, the Epsom Derby, Epsom Oaks and St. Leger Stakes, respectively. These events have each been held continuosly at Churchill since their debut in 1875. However, in 1953, the Clark was moved from the spring to the fall meet. The Falls City was also offered during the inaugural meet and after four interruptions, the race continues to be held.
The track formally opened May 17, 1875 with four races scheduled. The winner of the first race was Bonaventure, however the winner of the day's featured race, the Kentucky Derby, was a three-year-old chestnut colt, Aristides. Owned by H.P. McGrath, Aristides was trained by and ridden by two African-Americans, Ansel Williamson and Oliver Lewis, respectively.
Despite the success of the first Kentucky Derby, the track was not financially successful and on November 24, 1894 the New Louisville Jockey Club was incorporated. William F. Schulte was appointed president and Clark was retained as presiding judge for the track.
Under Schulte, a new grandstand was constructed during fall 1894 - spring 1895 on the opposite side of the track for a reported cost of $100,000. The grandstand was complemented by two spires constructed atop the roof. The twin spires, a simple architectural element, would become the symbol of Churchill Downs and the Kentucky Derby.
1874-- Col. M. Lewis Clark begins rescue of Kentucky's declining stock farm and develops the Louisville Jockey Club on land secured from his uncles John and Henry Churchill.
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Under the powerful Kentucky Jockey Club, the track's domain grew between 1919-1929. During this time the company acquired possession of the newly built Fairmount Park in East St. Louis, IL in 1925 and also constructed Lincoln Fields in Crete, IL in 1926.
With five tracks under its control, the Kentucky Jockey Club began the process of dissolving the organization in December 1927 for the purpose of re-organizing as a separate holding corporation under the laws of the State of Delaware.
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According to a Louisville Times article dated December 29, 1927 . . ."incorporated under the laws of Delaware, provides for a capitalization of $6,000,000, an increase of $2,600,000 over the present capitalization." |
