RUGBY UNION'S DEBT.

Ashburton Guardian, Volume 50, Issue 153, 10 April 1930, Page 6

RUGBY UNION'S DEBT.

SOUTHLAND IN ARREARS,

PRINCIPAL AND INTEREST. (Per Press Association.) INVERCARGILL, April 9. According to a statement made today by the treasurer of the Southland Rugby Union, Mr A. H. Courtis, the finances of the Union are in anything but a satisfactory state. Mr Courtis said that the Union had borrowed from the Amateur Sports Trust, which controls the proceeds of the successful. all-gold art union organised in 1925, the sum of £9500, bearing interest at 2% per cent. This money was to be repaid to the Sports Trust at the rate of £SOO every second yearyears in -which representative matches were played at home. At the time these arrangements were entered into. Invercargill enjoyed a universal half-holiday, and there did not appear to be any reason why the Rugby Union should not be able to meet its obligations. With a divided half-holiday, however, came financial •trouble, and the overdraft had crept steadily up until to-day it had increased to four figures. In addition, the Union had not been able. to meet its obligations with the Sports Trust. At January 31, the end of the Union's financial year, the amount of £3OO was owing in interest, and repayment of £SOO was due—an unenviable position. He said that the Rugby Union executive was out to rectify the • position by curtailing expenditure commensurate with the efficient running of the Union. It looked to the paying public and to footballers generally to throw m. their weight also.