Rajah here fell away, and Miss George led into the straight. Here Murat emerged from the main body, and made a capital effort to get to the front, bat the mare held her own without any great difficulty and won by a length. Investigator a good third, just ahead of Cypriote, and the rest, with the exception of Glnsy Prince, close up. Time 2min lTisec. Dividend—lnside £31 5s 6d, outside £59 Is. Kbw Zkaulnd Exhibition Cup of 1500 soys, with a sweepstakes of 10 soys each; second horse 300 soys. and third 200 sovb from the stakes. One mile sod three-quarters. Mr J. Stephenaon'eb h Occident, by Lapidist —TaeWest,4yrs.7et9lb .. (White) 1 Hon. G. McLs&n'e br h Sc. James. 4 yre, 6st 131b .. .. (W. Buddecombe) 2 Mr K. Ray's b h Wakatipu, 6st 510 .. (Ray) 3 Mr J. Kennedy's b c Recluse, Bst 61os (Barnes) 0 Mr G. G. Stead's g o Scots Grey. Sst 41b (Derrett) 0 MrHongerford'e blk h British Lion, 7st 81b (MoMorran) 0 Messrs Clifford and Hunter's blk f Crnisca, 7et7lb (Brown) 0 Mr H. Redwood's eh m Masthead, 7st 31b (Birkett) 0

Mr J. Paul's b g Foxton, 4 yre, &t 12b (Collelo) ~0

The horses -were formally paraded be fore the start. There was very little delay at the post. When the flag fell Occident was momentarily in front; but as soon as the horses were fairly in their stride, Wakatipu rushed to the front, with Occident, Masthead and St. James as his nearest attendants. Wakatipu continued to make the running at a merry pace, and, passing the stand six furlongs from the start, was lying about half a length in front of Masthead, with dt. James just behind the mare, and Occident on the outside, Scots Grey evidently making a waiting race. Opposite the stand Wakatipu still led, and it was here observed that Scots Grey made an effort to go up. For a second the Musket colt appeared likely to get to the front, but he apparently died away a quarter of a mile from home. Wakatipu was going back to his horses, St. James being nearly abreast of him, while Occident was close up, and evidently going well within himself. Rounding the home turn the two Dunedin horses gave Wakatipu the go-by. 