Section 14. Corporations formed under this chapter for encouraging the raising of choice breeds of horses may establish and maintain grounds suitable for exhibitions and trials of the speed or strength of horses; may arrange for and advertise such exhibitions and trials upon such grounds, may collect admission fees thereto and may award purses or premiums to the participants therein, if such purses or premiums are raised only from voluntary subscriptions to the funds of the corporation, admission fees or fees for entering horses in such exhibitions or trials.