N.J. Stat. § 4:15-6: Right of owner to hold fairs

The owner of any stud farm used for the breeding of fancy trotting or racing stock in this state may hold upon such farm, as often as he may deem proper, fairs or exhibitions for the development of speed or other desired qualities, and, to encourage competition, may offer premiums and rewards for stock exhibited and for superiority in the objects sought for, and ask, demand and receive, for his own use, reasonable fees for admittance.