11/01/2001 12:00AM

Louis Roussel Jr. dead at 95

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Louis Roussel Jr., formerly president of the ownership group at Fair Grounds Race Course in New Orleans, died Oct. 20 in New Orleans. Roussel, 95, is survived, by, among others, his son Louis Roussel III, an active owner-trainer in the Midwest.

Roussel, once a bus driver, had resounding success in the oil business before moving into the world of banking, finance, politics and, later in his career, horse racing. Long a public figure in and around New Orleans, he acquired a major ownership stake in the Fair Grounds. Roussel also served as chairman of National American Bank and president of Mutual Savings Life Insurance.

His son, Louis III, also became prominently involved in ownership of the Fair Grounds until the track was sold in 1990.