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During these years the Prince lost a good deal of money, though the amount was never known or even truthfully guessed at, but in 1889 his horses began also to win. In that year he won £204, in 1891 £4148, in 1894 £3499, and in the next four years a total of £57,430. In 1892 a Royal stud was founded at Sandringham and there _Persimmon_ and _Diamond Jubilee_ were bred. The Derby of 1896 was perhaps, the most historic of English racing events. Attended by a crowd of three hundred thousand people, raced in with horses owned by such generous patrons of the turf as the Prince of Wales, the Duke of Westminister and Mr. Leopold de Rothschild, watched with unusual interest by the crowd, it resulted in the most popular victory in the history of English sport. The Prince had fought hard for this blue ribbon of the turf, he had faced defeat and discouragement again and again and it was known that he would prize success more than anything within the limits of his ambition. When, therefore, _Persimmon_ carried his colours to the first victory won at Epsom by a Prince of Wales in a hundred years, the delight of the Royal owner was evident. The great gathering of people cheered as if each person present had himself won the race and their obvious enthusiasm was an expression of personal liking as well as loyalty. This was a great year for the Prince whose horses not only won the Derby, the St. Leger and the £10,000 Jockey Club Stakes but also the Newmarket Stakes. In 1897 _Persimmon_ won the Ascot Cup and the Eclipse Stakes (worth together £12,700) and was then retired from the turf. Trained by Richard Marsh and ridden by John Watts, this horse had given his Royal owner not only financial success but--what he valued infinitely more--great victories in a sport which he loved.