ELLERSLIE COURSE

Auckland Star, Volume LXX, Issue 190, 14 August 1939, Page 8

ELLERSLIE COURSE

MORE IMPROVEMENTS.

THE MEMBERS' STAND.

PRESIDENT REVIEWS SEASOIJ.

"The balance-sheet discloses a very satisfactory position, and I am sure that you will be pleased at the excellent results of the year's operations," remarked Mr. O. Nicholson, during the course of his presidential address at the annual meeting of the Auckland Racine Club this afternoon.

Mr. Nicholson said the popularity of the club's meetings had been maintained and he thought it could fairly b e claimed that better sport had not been so consistently witne.-sed in any previous year.

The club had experienced, in common with other racing club.-, in the Dominion, a. substantial increase in totalisator turnover, which, doubtlc-s. would have been further augmented had the committee varied its long established policy as regards classic and jumping races. The club included in its season's programme comparatively more of these types of races than wen- included in the programmes of other clubs. Their inclusion to the extent indicated tended towards the reduction n the volume of totalizator investments in comparison with what could reasonably be expected by the substitution of other races. The committee, however, thought that in the interests of racing these events should be retained on the programme to the extent followed for so many years, notwithstanding that such retention mioht result in a decrease of totalisator turnover.

Members would note from the report that the sum of £.kS,ooO had been paid cut in stakes for the racing year. The committee intended to further increase the prize money for the furthcoming season. The net profits for the vear amounted to a!10.7-'32 17/. which "had been transferred to the credit of capital account.

Government taxation amounted to £80.41 s. in addition to which £2267 was paid bv way of local rates. The Government again allowed a rebate of per cent 011 the first £20.000 of totalizator turnover and al>o one-fifth of tlitj totalisator tax, which was appreciated by all clubs. It was hoped that the Government would continue these rebates (luring the coming year, especially in view of the high" rate of taxation now levied on. the sport and the large disparity between the amount paid to the Government and that which the club was able to provide for owners who supplied the horses to keep the sport alive. Higher award rates had accounted for the increases in wages accounts and maintenance costs. Raeinw clubs were under the present law liable for Social Security taxation and it had been deemed prudent to reserve in the year's accounts a sum of £2000 to meet this tax and other taxation contingencies.

The improvements to the steeplechase course were completed during the year and the new portion was used for the first time at the autumn meeting. Alternative plans. Mr. Nicholson continued, had been prepared for the making of substantial alterations and additions to the members' stand or for the erection of a new stand in its place. These had been carefully considered, hut certain circumstances had arisen which necessitated a postponement for a short period of a final decision. If the work had been approved it could not have beep proceeded with at the present time under existing trade conditions. The committee fully appreciated the necessity which existed for the additional accommodation. For the time being, however, members would have to be content to leave the matter entirely in the hands of the committee to act in such manner as prudence and sound judgment dictated.