Quarter Racing Inc

The new owners of Los Alamitos Race Course, to the astonishment of many, find themselves in a rather unusual position--on the brink of profitability. The track, in recent years considered a white elephant, was sold to Hollywood Park in 1984 for $58 million. But it wasn't long before it was so deep in red ink that the survival of the parent Inglewood track was threatened.

The new owners of Los Alamitos Race Course, to the astonishment of many, find themselves in a rather unusual position--on the brink of profitability. The track, in recent years considered a white elephant, was sold to Hollywood Park in 1984 for $58 million. But it wasn't long before it was so deep in red ink that the survival of the parent Inglewood track was threatened.

The partial sale of Los Alamitos Race Course to the quarter horse interests of Ed Allred and R.D. Hubbard was completed Wednesday night when Lloyd Arnold, the current owner, signed the final papers. All that remains, according to all parties, is "housekeeping paper work" that should be completed next week. Arnold and Chris Bardis agreed to selling half-interest in 125 acres of track property for $16.5 million. The half-interest is actually being sold to Quarter Racing Inc.

A bill carried by Assemblyman Frank Hill (R-Whittier) narrowly passed the Assembly on Monday, despite criticism that it would create a special tax break to benefit a single private firm. The measure would aid operators of a horse racing meet at Bay Meadows in San Mateo, the Peninsula Quarter Horse Racing Assn. Peninsula's parent firm, Quarter Horse Racing Inc., also operates a meet at Los Alamitos.

The partial sale of Los Alamitos Race Course to the quarter-horse interests of Ed Allred and R.D. Hubbard was completed when Lloyd Arnold, the current owner, signed the final papers late Wednesday night. All that remains, according to all of the parties, is some "house-keeping paper work" that should be completed early next week. Arnold and Chris Bardis agreed to selling a half-interest in 125 acres of track property for $16.5 million.

A bill sponsored by Assemblyman Frank Hill (R-Whittier) narrowly passed the Assembly on Monday, despite criticism that it would create a special tax break to benefit a single private firm. The measure would aid a horse racing meet at Bay Meadows in San Mateo operated by the Peninsula Quarter Horse Racing Assn. Peninsula's parent firm, Quarter Horse Racing Inc., also operates a meet at Los Alamitos.

Two Whittier legislators whose offices were searched by the FBI last week in a political corruption investigation received nearly $176,000 in speech fees and gifts from private companies, trade associations and other groups and individuals in the last two years. Democratic Sen. Joseph B. Montoya, chairman of the Senate Business and Professions Committee, accepted more than $80,000 in honorariums in 1986 and 1987.

The three San Gabriel Valley legislators whose offices were searched by the FBI last week in a political corruption investigation received nearly $245,000 in speech fees and gifts from private companies, trade associations and other groups and individuals in the past two years. Sen. Joseph B.

Four legislators who are prominent targets of the FBI's investigation into political corruption have received thousands of dollars in personal income from businesses seeking to influence the course of legislation in the state Capitol, public records show. The four lawmakers, who all are in a position to help decide the fate of certain bills, reported receiving a total of $161,474 in honorariums from special-interest groups during 1986 and 1987.

State legislators representing the San Gabriel Valley received more than $227,000 in gifts and speech fees last year--double the amount they collected two years ago--according to statements they have filed with the Fair Political Practices Commission. The leading recipients were Assembly Republican leader Pat Nolan (R-Glendale), who reported $19,000 in speech income and more than $25,000 worth of gifts, and Sen.

When legislators choose up sides for informal, after-hours basketball games, Frank Hill is among the most sought-after players. One Democratic colleague joked that the agile 5-foot-10 Whittier Republican is a good ball handler who "can easily move to his left or right" as he scores a basket. Off the basketball court, Hill's teammates say that most of his legislative moves are to the right, but that he is just as skilled at scoring political points.