One hundred years after the Aga Khan III made his first purchase at the Tattersalls July Sale, the bloodstock empire he built, and which has been carefully cultivated by his grandson, HH the Aga Khan IV, continues to thrive. Following Tuesday's first instalment of the early years of the Aga Khan Studs, the second part sees the baton pass in sad circumstances, heralding a major restructuring of the operation. The text is reproduced by kind permission from the Aga Khan Studs' centenary brochure, written by Emma Berry and John Berry. ...