The Chicago Board of Education Ag School has decided to take a unique approach to school funding.... horse racing. During the past year, the school has acquired two racehorses and one of them is a winner. $98,000 last month alone and a dozen races to go. The horse's name is Melbatoast, a 3 year old Standardbred from Kentucky. The school has invested a substantial sum in boarding, training, veterinary care, transportation, etc. but now it's paying off.
There has been no decision yet as to what the school will do with all the winnings. Maybe they can buy another tractor or hire more teachers or even buy some more racehorses. There was even one proposal to share the winnings among the students, since many of them have been so involved in caring for the horses. That decision will probably be made by the School Council.
Owning a good racehorse can be lucrative but the real money is the gambling. A public school cannot gamble, that would be illegal, but everyone else can. Two local characters, Tony G and Tony D have been seen at a food joint near the school on Friday afternoons, teaching the kids how to handicap and facilitating a few wagers here and there. Word is a few of the kids have done ok in that area.
Melbatoast at Fairmount
I called the school yesterday to get the racing schedule and of course "nobody knows nuttin". Tony G told me that both horses are running at Arlington this Saturday afternoon. Come out and support your horse.