Also Ran Horse Racing Game by Chad Valley (1946)

A horse-racing game that is Great for Party's and gets everyone involved
No dice, no skill! An unusual mechanism.
Each horse moves by having its colour indicated by an arrow on the base of the last horse to move, on a variable track with the colours in varied sequence.
Completely predetermined as soon as the track is laid and the first horse is chosen, but completely unpredictable.
Can be Played over and Over Again .
This is a Classic from the 1940's , Very easy to Learn,Great for all Ages,you never know who is going to be Past the Post First .
The Game is Very Colourful and the Horses made of Wood, 
The Track comes with 12 Straights and 4 Corners and can be made into any number of Courses.
The Game can be Played by any number of Players ,Aged 8 Years to Adult.

The Game is Complete and the Components are in Very Good Condition.
The Box is also in Very Good Condition for its Age.