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Press, Volume LXVIII, Issue 20566, 7 June 1932, Page 8

Although a reduction in expenditure of over £3OO was made, the Canterbury Aero Club has suffered a loss of £684 12s 11<1 on the last year's work, according to the fourth annual report, which has been published. The report states that the main cause of the loss was the falling-off in subscriptions and instruction fees. Subscriptions decreased by £250, due mainly to the falling off in social members and the late payment of their dues, while intlon OGS snowe d a reduction of Government subsidies also fell by £2OO below the previous year's figures. To meet the loss it had been necessary to bring'in £268 17s 2d from the general reserve created by art union profits, this leaving a loss of £415 15s 9d to be transferred to the debit of the accumulated fund, which at the end of the last year, was that amount in credit. The report states that it would be utifortunsito if tho reserve created by the art union profits had to be drawn upon heavily to make ■up the deficit in expenses-