Thoroughbred Mioland Sets Record at San Juan Capistrano

The transcript describes a horse race between Bayview and Miolan. Initially, Bayview, who had previously beaten Miolan, starts strong but fades away. Miolan, the favorite, maintains a strong position and ultimately wins the race, setting a new track record for a mile and a half.

What is the significance of Miolan's performance in the race?

What record did Miolan set during the race?