A RECORD YEAR

Auckland Star, Volume LXXII, Issue 171, 22 July 1941, Page 2

A RECORD YEAR

AVONDALE RACING £28,538 PAID IN TAXATION A year of record progress, both in regard to the amount of investments and the number of starters in races, was disclosed at the annual meeting of the Avondale Jockey Club this afternoon, when Mi". J- E- Wells piesided over a good attendance of members. The balance-sheet disclosed that the totalisator tax paid to the Government amounted to £2G,951 and taxation from ail sources £28.538. In moving the adoption of the report and balance-sheet. Mi'- " el's drew attention to the fact that £/•>' 0/2 had been carried to tjio capital account, after allowing i'(is 3 2/<> for depreciation of assets, writing oil bail debts of ISO 1 1/ and making provision of taxes and sundry creditors to the extent of HSGI 5/11. Mr. Wells said he felt sure members would agree that the club s financial position was a very sound one. Last year, the committee had decided that, owing to the war, they would refrain, as far as possible, from executing any now works at the course. Nevertheless, it had been found that the drainage system was quite inadequate to cope with the extra usage owing to army occupation and the committee had expended over £'500 in this connection. Another item of maintenance was the painting of the post and rails around the track.

The totalisator turnover for the year amounted to £287,50S —a record for the club—and the amount paid in taxes £20,951 15/. The total taxation from all sources was £28.5:58 6/1. In mentioning that stakes distributed totalled £1-1.075, Mr. Wells pointed out that the totalisator and dividend tax paid to the Government was £12,87(> 15/ greater than the amount of the stakes. While on the subject of the club's three race meetings, the president metioned that at the Cup meeting, in September. 269 horses started—an average of over 1G per race. The gates and race card sales had greater than ever, and the totalisator turnover £107,111—a record for the club. In regard to the second spring meeting, only controlled since 1937. when the totalisator return was £51,402 10/. the turnover last November was £77,154 10/. Teh number of starters in 1937 was 139, against 189 in 1940. The autumn fixture in April last was a record for the meeting, the totalisator returns being £103,242 10/, and the number of starters 267. The entries for the classic races in the 1941-42 season, taken in June, were very satisfactory, the number and class of yearlings entered auguring well for high-class racing during the coming season. The membership of the club continued in a very satisfactory position, several new members' being elected during the past vear, and the committee had decided that it would be necessary to create a waiting list for future nominations. The repcrt and balance-sheet were adopted and the following oflicers elected unopposed:—President. Mr. J. K. Wells; vice-president. Mr. .1. Archibald; committee, Messrs (I Baildon, F. Coe. F. T. JefTries E j' Morrison and \Y. Stewart.