FRANKLIN RACING CLUB.

Auckland Star, Volume LXIII, Issue 182, 3 August 1932, Page 12

FRANKLIN RACING CLUB.

SOUND FINANCIAL POSITION. LOSS OX YEAR'S OPERATION'S. There was a very large attendance of members at the annual meeting of the Franklin Racing Club, the president, Mr. Dynes Fulton, presiding. The balance-sheet showed that the club was in a sound position financially. While the cash at bank and'on fixed deposit had shrunk from £3200 last year to £2400 this year, the cash position was virtually only £200 dawn, after taking into account that £750 in mortgage had been met, that there was a decreaee in the amount owing by debtors and an increase, owing to sundry creditors, including mortgage and interest. The year's operations resulted in a loss of £441 12/5. . , , •

The president, in moving the adoption of the report and balance-sheet, said he believed that economic i conditions would improve shortly, and that when the next race meeting was held, fche affairs of the country would be in a much better state than they were at present. He added that the policy pursued by the executive in the past, that of curtailing expenditure wherever possible without impairing efficiency, would 'be continued in the future.

The following officers were re-elected unopposed:—President. Mr. D. Fulton; vicepresident. Mr. A. H. Tapper: committee, Messrs. F. G. Parker. E. J. Morrison, A. Jones, P. L. Short, J. Beatty. G. Carter, J. Mclntyre, A. F. Brown, S. J. Clews, J. Reynolds, W. T. Dazeley and F. A. Hosking. The question of supporting the representations to the Government to introduce legislation legalising the double totalizator, and the transmission of bets by telegraph, was referred to the executive to pursue.