The Point Hope – Thoroughbred Racing Connection

While remaining an active and influential businessman in the industrial world, former Point Hope landowner Harry Frank Guggenheim found himself increasingly drawn to the business of raising racing horses and managing stables. His “Cain Hoy Stables,” located in Jobstown, New Jersey, became known as the most successful racing stables in the 1950s.  It was named after Guggenheim’s first land purchase in Charleston: 10,000 acres on the Cainhoy peninsula, which is now home to the growing community of Point Hope.

Cain Hoy Stables opened in 1934 as a Thoroughbred racing organization with just one horse. It closed in 1959 as the leading money-earning stables in the country, with several champion Thoroughbreds. Among them was Dark Star, the American Thoroughbred racehorse and sire that won the 1953 Kentucky Derby against Native Dancer, who had been undefeated in eleven races. Ambiorix, Daymier, Jet Pilot and Princequillo are just a few of the other champions that were shaped by the programs at Cain Hoy Stables. 

When asked the secret to his success at Cain Hoy, Guggenheim’s answer was indicative of the foundation that the Guggenheim family legacy was built upon: “I can honestly say there is no set formula,” he would respond. “If there were set and proven ways, there would be little difference of opinion and therefore little interest in racing.” 

Guggenheim’s passion for thoroughbred racing ultimately became one of his greatest lifetime accomplishments.