In the days leading up to the 1888 Melbourne Cup, an Ipswich horse was involved in one of the biggest fleecing operations ever. I told a version of this story live on Ipswich’s West Bremer Radio.

For the uninitiated about “fleecing”, instead of removing the fleece from a mob of sheep, fleecing is removing money from a mob of unwitting punters.

Today is Victorian Derby day, and exactly 137 years ago to the day, an Ipswich horse was central to one of the biggest fleecings ever.

In 1888 Mr William Moffatt, previously from Rockhampton, was the lessee of two very good Queensland horses that he took to Melbourne for the rich races there. Moffatt was already well known in Melbourne football circles having played with Geelong in the 1870s.

One of his horses Ben Bolt was bred at Drayton just outside of Toowoomba, by Mr. John Finnie, known as “Honest John”. Ben Bolt had won twenty-two wins out of twenty-four races in Queensland before going to Melbourne where he won the 1886 Caulfield Cup.

His other horse was Lord Headington which was owned by Ipswich railways identity another straight-shooter Mr. Stephen Welch who at the time was a farmer at Laidley.

Welch had previously been the fireman on the first train out of Ipswich in 1865, and the driver of Queensland’s first fatal train crash at Bowenville near Toowoomba in 1876. Out of the compensation that he got from the government, Welch bought his Laidley farm, sent his sons to Ipswich Grammar, and bought racehorses including Lord Headington.

With Lord Headington, Welch won the 1887 Queensland Derby, and just before the Melbourne spring racing in 1888, Welch leased the horse to Moffatt.

And so there was Moffatt in Melbourne with his newly leased horse Lord Headington, which was one of the fancies to win the 1888 Melbourne Cup, the year in which it became the richest race in the world.

In the days leading up to the cup, Moffatt was telling the story to a group of Queenslanders about a wonderful gallop by Lord Headington which Moffatt reckoned was a certainty to win the Coburg Stakes on Victorian Derby day. Today the Coburg Stakes is the $3 million VRC Champions Mile.

Anyway, Moffatt’s story was that he was unable to bet himself, but he wanted Queenslanders to win some money. And all the best Queenslanders were down for the Cup, among them such plungers as George Cowlishaw who was the managing director of the Brisbane Telegraph newspaper. Incidentally Cowlishaw was the architect of Ipswich’s original Bank of New South Wales building.

There was also Mr. Jack Callaghan who was the lessee of the Theatre Royal which was only the second dedicated theatre to be built in Brisbane, it was on the site of the old Myer Complex.

Anyway, Moffatt’s plan was for one of the Queenslanders to put £1,000 on at long odds. The rest of them would be mustered at Saqui’s cigar divan, which was a fashionable and respectable social club for gentlemen in which to gather and smoke cigars.

When the £1,000 was on, the first punter would signal for the others to then commence the plunge. Moffatt promised that if anything went wrong he would pay £250, which he was getting from sweep-holders for running his two Queensland horses in the Melbourne Cup.

The first bet was placed at 14-1. Then the rest of Queenslanders rushed the big bookmakers, but the bookies already knew what was coming and gladly accepted the money. They put on another £3,000, but Lord Headington started at 20-1 and ran last. All up they were fooled out of £4,000 or well over $4 million in today’s money.

Moffatt’s real plan was not to cook the bookmakers, but to fleece the Queenslanders. He succeeded, and got a good dividend out of it, and never paid the promised £250.

Three days later, Ipswich’s Lord Headington was a fancy to win the Melbourne Cup, and thanks to running last in the previous race, he had blown out to the attractively long odds of 100-1. The race started and Lord Headington was the early leader, however faded to finish in sixteenth place. Ben Bolt fared not much better in fourteenth. The cup was won by Mentor.

Lord Headington’s historical role in 1888 in probably the biggest fleecing ever perpetrated on Queenslanders was secure.

The Queensland Derby winner Lord Headington had been leased so he could be taken to Melbourne and used in a fleecing operation. He was run last drive up his odds for the Melbourne Cup, but he failed in the big race. Lord Headington was returned to his owner, but his reputation and value was never the same, because he himself had been fleeced.

CLICK HERE TO LISTEN TO A VERSION OF THIS STORY TOLD ON EST BREMER RADIO.

Photo credits:
Representation of Flemington bookmakers 1888 – Copilot.
Ben Bolt winner of the 1886 Caulfield Cup – State Library of Victoria.
Lady Bowen first train into Grandchester, 1865 – Queensland University of Technology.
George Cowlishaw – Week, Brisbane, 10th January 1913, page 16.
Mentor winner of the 1888 Melbourne Cup with trainer Walter Hickenbotham and jockey Mick O’Brien, Flemington, 1889 – Deutscher and Hackett auctions.