"Maybe it's better to break a man's leg than his heart."
The newspaperman is speaking to Seabiscuit's owner, Charles Howard, about whether or not he should allow the injured jockey "Red" Pollard to ride Seabiscuit in the Santa Anita Handicap. Howard does not want to be responsible for crippling Pollard but is also worried that Alexander, who threatens to verbally "crucify" Howard in his column should he deny Pollard the opportunity, represents the collective opinion of the press in general. Howard's motives are good: he wants to not expose Pollard to danger. But Alexander, an old friend of Pollard's, believes that the jockey is fully capable of understanding and accepting the risks, and that he should be allowed to race.
"All four of his legs are broken."
A man of few words, Smith is annoyed by the reporters' persistence. Due to the media fascination with Seabiscuit, reporters are becoming increasingly invasive, and many of the young men are more interested in writing impressive stories than in understanding what they are writing about. One such writer has just interrupted Smith and Seabiscuit during Seabiscuit's cool-down. The horse is wearing wraps on all four of his legs to keep the joints warm and to keep him from injuring his suspensory ligament, which had suffered a minor injury when he accidentally kicked himself during a workout the previous winter. In a moment of frustration, having been asked about the wraps yet again, Smith asserts that all four of Seabiscuit's legs are broken. The reporter, instead of recognizing the sarcasm, dashes off with what he thinks is a major scoop. His equally ignorant editor puts it out on the national wire, creating a sensation. It takes two weeks for the corrected story to catch up.
Unfortunately, the false report foreshadows a real injury. About a month later, Seabiscuit ruptures his suspensory ligament training for the Santa Anita Handicap race, and his racing career appears to be over.
"Seabiscuit is the greatest horse I ever rode."
The famous jockey has just finished riding a Triple Crown winning horse named Whirlaway to break Seabiscuit's earnings record. Still, he asserts that Seabiscuit was the finer and better horse.
"So long, Charley."
Seabiscuit has just pulled ahead of War Admiral and is about to put on an extra burst of speed, shutting the Triple Crown winner down to eventually win by three full lengths. George, who is riding Seabiscuit because Red Pollard is out with an injury, is communicating with the jockey riding the heavily favored War Admiral.
"Why rate him? He knows the poles better than I do."
Pollard is praising Seabiscuit's intelligence. Sometimes jockeys have to hold the horses back, or "rate" them, to keep them running at a lower speed or rate early on in the race so that they don't tire themselves out. Seabiscuit is intelligent enough to know one distance pole from the next and to pace himself.