May 6, 1939, 65th running of the Kentucky Derby official program. The cover shows 1938 winner, Lawrin. Not shown is winning jockey Eddie Arcaro, but he is featured inside. The Derby was won by Johnstown, who would also win the Belmont Stakes, falling one win short of the Triple Crown.

This program has some wear, mostly to the back cover. There is also a photo that has been cut out of the magazine (as shown in photos). The spine is in good shape and there are only some minor wrinkles and a couple small tears in the front cover. This program measures 9.5" x 13".