Racing: Pipe parades his haul of talent: The former champion runs a leaner operation but his appetite for success remains as keen as ever. Richard Edmondson reports

For those who believe the recession is over, there was sobering news from Somerset yesterday. Martin Pipe, the man who has rewritten more records than Norris McWhirter, has flipped the cardboard sign in his window round from 'no vacancies'.

National Hunt racing's most prolific trainer has empty boxes at his yard and there is no conga of the sort that stretches from Russian provisions stores to rectify matters. 'It could be the economic climate,' Pipe said. 'Money is tight.'

It could also be informative when diagnosing the body racing to learn that the man who regularly sends out 200 winners a season has had something of a lukewarm response while searching for a stable sponsor. In fact, no-one has been in the slightest bit interested.

But even though Pipe might be down to 100 horses from a maximum of 140, he is not about to ask for directions to the local soup kitchens. A gathering yesterday at his Pond House stables at Nicholashayne was a most lavish affair, ostensibly an occasion to publicise the 1995 Grand National.

There was champagne, a parade of expensive horses and, surreally, a rainbow over the village which suggested the pot of gold was half-way up Pipe's gallops, which could pass as one of the Eiger's more formidable sections.

There was also Barrie Cope, the racecourse seafood specialist, who has accounted for more life from the oceans than the bickering British and Spanish trawling fleets put together.

Praise was so effusive for Cope's fare that Miinnehoma, came off a very poor second best in adulation. Last April's Grand National hero was part of a 12-strong consignment paraded for the visitors, to the accompaniment of a Pipe soundtrack.

The trainer has never been an easy performer before the press and yesterday, in a Maplins jacket with a microphone in hand, he was about as relaxed as he gets. Nevertheless, the West Countryman was still twitchy as he read out notes on each beast walking before him.

These commentaries were typical Pipe: a blend of formbook-speak and the blindingly obvious. 'Miinnehoma won at Newbury and then the National,' he said. 'It was a great thrill for all the team. (Richard) Dunwoody was ecstatic as he went past the line.'

When the inevitable media scrum developed, the trainer was even more uneasy and reacted as if Roger Cook was back and delivering questions from the back of the group. 'What about Cyborgo?' the voice asked. 'He's still here,' Pipe admitted of his Liverpool winner. 'He's a nice horse.'

By strange paradox, Pipe insisted he was undisturbed about losing his trainers' championship to David Nicholson as he had sent out more winners.

Yet money is his principal dynamo and guides his every movement.

Last season the Pond House method was to train more quality horses in an effort to reap even greater rewards, but, ironically, this system saw him drop from the peak of the earnings mountain. Pipe now seems to believe again in the method that made him: that more is best.

'The art is to get more numbers,' he said. 'If you've got quantity, you've got quality as well. It's no good just winning one big race.'

The soul is not cold all over, however, and Pipe can still feel the adrenalin shot he was given as Miinnehoma repelled Just So at Aintree six months ago. 'You don't realise what it's like to win a National until you've done it,' he said. 'I remember Nick Gaselee (the previous winning trainer, with Party Politics) saying that once you've won a National you're bitten by the bug and you have to do it again. He was right.'

In terms of corporate bonding, yesterday's was a stunning affair. From the insignia on the hoardings, the hospitality marquee and the flags that were run up the Pond House poles, it became clear to those who did not know already that Martell had something to do with the National.

The brandy people continue to believe their 'premium' French product is best served not by backing a fashion show or Grand Prix racing, but a hard slog for horses in northern England.

In fact, the National purse will be up this year to a total of pounds 160,000. The 'simulcast' to Hong Kong will be repeated, and the race may also be seen at racetracks in Singapore, in Vietnam, Spain and the United States.

Even as this information was being digested, Pipe was preparing for more work. By 2.30 he was airborne and on the way by helicopter to Newmarket for the horses-in-training sale. He has boxes to fill.

Pipe's Cotteir Chief received a 33-1 quote from Corals for the Triumph Hurdle at Cheltenham next March after winning yesterday's Squirrel Conditions Stakes at Leicester from the Derby seventh, Golden Ball.

Ladbrokes cut the winner to 12-1, from 25-1, for a more immediate goal, the November Handicap on Saturday week.

(Photograph omitted)