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For one fleeting moment last week five live Thoroughbreds hung suspended in air over New York's Aqueduct track, and the precision of their postures gave them the frozen look of carved and painted steeds on a merry-go-round. Seconds later, like a merry-go-round gone silly, the orderly pack flew apart at the seams and dissolved as each horse struck out on his own for the finish line still some two miles away. The first to cross it was Mrs. Ogden Phipps's odds-on favorite, Ancestor, already well ahead at this memorable moment, who paid backers trusting in his individuality $3.40.