WAIKATO RACING CLUB.

Auckland Star, Volume LXIII, Issue 198, 22 August 1932, Page 11

WAIKATO RACING CLUB.

THE ANNUAL REPORT. LOSS ON THE YEAR. - The president of the Waikato Racing Club, Mr. G. W. Vercoe, in his report of the past season to be submitted to members at the annual meeting on August 27, states:— " Racing in the Dominion during the year under review has been most difficult, more especially for country clubs, and, in common with others, your club has had to face the existing conditions. Your committee kept expenditure down to a minimum, and made a further reduction in stakes, but, notwithstanding these economies; the year's working has resulted in a loss of £246 14/7, after providing for depreciation bad debts £309 12/0. Totalisator receipts amounted to £8475 13/3, and the--amount paid the Government in taxation was £4695 6/3, while the club gave in stakes £4330. Fair weather was experienced for the spring meeting, but for the summer meeting the weather was very bad, necessitating a postponement, which resulted in a big loss for the fixture. Owing to some clubs not using their permits an additional two days' racing was offered to the club, temporarily, but your committee decided'.to accept one day only, and a steeplechase meeting was held on May 21, and proved a success financially and from the point of view of racing. ■,- Generous Consideration. "■ Last year, owing to the decline in revenue, your committee found it impossible to meet commitments in respect of mortgage and debenture interest. I am very pleased to be able to report that both the mortgagees and debenture holders have met the club in a most generous spirit, and have agreed to allow the interest due for 1931 to lapse, and to accept for the years 1932 and 1933 such interest (if any) as the finances of the club will reasonably permit, in full satisfaction of interest payable. The whole position is to be reviewed at the end of 1933. This arrangement should enable the club to carry on in the meantime, and it is hoped that by the end of 1933 conditions will -be greatly improved. "No permanent improvements at the racecourse have been undertaken during the year. I desire to thank the honorary officials and permanent staff for the satisfactory manner in which they have carried out their duties. Messrs. P. R. Seddon and A. Miller, being the only nominations for the offices of president and vice-presi-dent respectively,' will therefore be elected unopposed. \ For the six vacancies on the committee, the retiring members, Messrs. H. D. Caro. W, T. C. Christie, 0. M. Monckton, G. J. Peach,! A. E. Sandford, and S. V. Tyler, being the only nominations, are also elected unopposed." BRISBANE MEETING. , ~—s? N.Z. HORSES PLACED. Nea Lap ran second to Lough Neagh in the Tattersall's Club Handicap, one mile and a quarter, at Brisbane, on Saturday. Goshawk was third in the Welter, seven furlongs.