Hi there, horse!
Surprisingly, that trophy of yours was awarded for fastest pace in an
*automobile* race!
The Orange County Fair Speedway was originally built in 1857 for
horses.
Bullrings (near the bottom of the page)
http://www.deepthrottle.com/History/track_links.shtml
In 1919, however, someone got the bright idea to stage an automobile
race for the fair, and the idea caught on. The track was used for
cars thereafter.
Orange County Fair Speedway, Middletown, NY
http://www.angelfire.com/ct3/victoryspeedway/
Photo of "Harry Clay Oval" in 1924
http://www.angelfire.com/ct3/victoryspeedway/page3.html
(The Speedway page, while somewhat incomplete because it's still under
construction, has some terrific photos and articles from the '20s,
dealing with the annual car races at the Orange County Fair. You msy
find it quite enjoyable.)
I also found a lovely photo of your trophy at Leland's Sports
Memorabilia:
1924 "Fastest Pace" Large Trophy
http://www.lelands.com/auction/auctioneer.exe?SiteId=LELANDS&Item=2595
I hope this clears things up for you!
missy-ga
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