SPORTS GROUNDS COMPANY.

Press, Volume LVI, Issue 10886, 1 July 1899, Page 5

SPORTS GROUNDS COMPANY.

— T~ The annual meeth|g' of the Sports Ground Company was held Mr Wilding (chairman of directore) presiding. The Chairman saft that lie had received a letter from Dr. Jennings, tendering his resignation as one M the directors of the Company as a prol|st against the present system of management. , The report and btlance-sheet, which has already been publish|dj was taken as read. The Chairman, the adoption of the report and bala&ce-sheet, said that the Board of Directors Sad, after full consideration, decided to carnr out the wishes of the general meeting of snareholders with regard to the acquisition &■ further land. This had been acquired on|ease. There had been considerable expensean connection with this, which had £185 18s 7d. That amount and other improvements would account for the £3O0» written off property. The improvements cfwisisted of work in the i grand stand, *th»4 improvement of* the cycling track, and ,l|e acquiring of a small asphalt plant. Gen&ally the income during , the year had been oi a satisfactory nature. There had .been in general re- . venue for the year 1889 of £146 Is Bd, but • they would probablf Eave to face the loss of the Trotting Clubjs, which meant the reduction of some £160 in their income. A " goodly number of §entlemen interested in trotting were adverse *to removing trotting from Lancaster Park, and it might be that a new club would be formed, j -He_had taken out the figures of the revenue derived from tne various sports per annum, they worked out as under:-Cricket £183, football £158, cycling £145, athletics £38, and swimming £24 He mentioned these figures because it had been stated had been made on cricket which had not heen returned. They had -had- a very bad season for cricket, as no foreign matche. had beex , phived, but they would have two Austrahar I matches played during,tie coming season. I which return a good revenue ta Foo&feu had been unprece dentedlv successful this season, and thej 9 looked forward to a good return before tin clcs* of the season. He desired tosay no* i much the Company; owed U> Mr Kestevei " for his untiring zeal and energy in its behalf I Mr Bruges seconded the motion, which was £3 rricci* MrWildinerand the Hon. E. C.J. Stevens ' : the retiring directors, were reelected, ant .Messrs Ollivier Bros, were elected as auditors Mr A. E. G. Rhodes' thought that thej should get increased capital into the Comtony, and that the "uncalled capital should ne called up, or new preference shares issued. He moved—"That ife be a recommendatior to* the Directors to" consider a- scheme foi *~ the increase of the capital of the Company and Eubmitthe famefo a general meeting.' Mr R. M. Macdchald seconded the motion ['; wbicvt wis agro3d to, . ~ j Ie vas resolved that Dr. Jennings be Irj requea *1 to reconsidjfr his decision to resigt 1 his position as a director. 1 Theymeataxig then terminated.