I found this information on the Maine Memory page.  It is amazing that a city named a building after a race horse but, after reading it, I can see why they did.  There's a Braden Street too.  One of the residents living on Braden Street told me she thought the street was named after John R Braden.

http://presqueisle.mainememory.net/page/943/display.html

I found another great page with great information about the race horse, John R. Braden, that the movie theater on Main Street of Presque Isle, Maine was named after.  Check it out.  Add any memories you have of this amazing horse and the role he played in Presque Isle history.

http://www.mi-harness.net/publct/hb/jhnrbrdn.html