Designed and produced through Brown, Waterhouse & Kaiser jewelers, with a small horseshoe on the side and a wreath of roses encircling the base, the cups hold 12 fluid ounces of sterling silver. They remained unchanged until 1984 when Leslie Combs II, the winning Oaks owner, expressed some concern that the horseshoe of the julep cups was "pointing downward," which superstition decrees "makes the luck run out." Churchill Downs obligingly had the manufacturer turn the horseshoe 180 degrees, pointing upward. Tradition was the victim, appropriately to Mr. Combs' aptly-named Oaks winner, Lucky, Lucky, Lucky.

The julep cup also plays a part in Derby lore. Traditionally, the governor of Kentucky salutes the victorious Derby owner with a champagne toast at the Winner's Party following the race. That julep cup then is added to the complete set the track has-one for each of the past Derby winners. For nearly a century, the mint julep has been the traditional beverage of Churchill Downs and the Kentucky Derby.

The Grade II Early Times Mint Julep Stakes on May 24 at Churchill Downs is sponsored by Early Times, the time-honored ingredient in mixing an authentic mint julep. If the Early Times Mint Julep Ready-to-Serve Cocktail is not available from your local retailer, you can make your own with this recipe:

Early Times Mint Julep

• 2 cups sugar
• 2 cups water
• Sprigs of fresh mint
• Crushed ice
• Early Times Kentucky Whisky
• Silver Julep Cups

Make a simple syrup by boiling sugar and water together for five minutes. Cool and place in a covered container with six or eight sprigs of fresh mint, then refrigerate overnight. Make one julep at a time by filling a julep cup with crushed ice, adding one tablespoon mint syrup and two ounces of Early Times Kentucky Whisky. Stir rapidly with a spoon to frost the outside of the cup. Garnish with a sprig of fresh mint.