Two prominent horse racing enthusiasts, Robert
Hermon Hodge, M.P. for Accrington, and Mr. John Lees, J.P. decided
to set up a public company to purchase Dunstall Park and build a new
racecourse there. The new company, Wolverhampton Racecourse and
Dunstall Park Limited held its first meeting on 16th
June, 1887 in London. Within a few weeks the estate had been
purchased for £36,000. The money was raised as follows: £15,000 came
from the sale of 3,000 shares at £5 each, a further £15,000 from a
debenture, and £6,000 cash. When the transaction had been completed
Alexander Staveley Hill joined the board and became the company’s
first permanent chairman in October 1887.
The site would prove to be just right for the
new course. Even before the land had been acquired, a small two-day
race meeting had taken place in October 1886 under National Hunt
Rules. The facilities at the time were extremely poor, the main
attraction being the Wolverhampton Hurdle with prize money of only
£70. Even so a number of famous riders took part and the scene was
set for future events. |