FINANCE FOR AIR RACE

Press, Volume LXXXVIII, Issue 26814, 20 August 1952, Page 8

FINANCE FOR AIR RACE

Progress Report Not Yet Available MEETING WITH COUNCIL COMMITTEE To discuss the financial provisions tor the air race from England to Christchurch in October next year, representatives of the Canterbury International Air Race Council attended the meeting of the City Council’s finance committee on Monday afternoon. No information about the total funds in hand was available yesterday from either the Air Race Council or the City Council. The Mayor (Mr R: M. Macfarlane, M.P.) said at a council meeting early m June, that a progress report was desirable as the City Council had guaranteed the £30,000 required to eover the prize money before international arrangements could be advanced.

The Town Clerk (Mr H. S. Feast) said that he could give no information about the meeting on Monday. The finance committee might report to the council.

“I have no comment to make at this stage” said the president of the Air Race Council (Mr H. D. Christie). Total expenses for the race are estimated at £55,000 in the following divisions:—Prize money, £ 14,500 each for the speed and handicap sections (first £lO.OOO, second £3OOO third £lOOO fourth £500), a total of £29 000 plus the Harewood Gold Cup, valued at £lOOO, for the speed section; Royal Aero Club's expenses in London covering preliminary investigations and organisation, payment of officials 'for inspections, handicapning. starting, and supervision, £13,500; organisation in New Zealand, including salaries, wages, honoraria, and travelling expenses, £4500; and promotion expenses £BOOO. The Nev? Zealand Government and the City Council early made contributions of £5OOO each to the race and toward the remaining £45,000 required. The Air Race Council this week received £l5lB from the milk vendors’ raffle. Various local bodies and business firms in Canterbury and other parte of the South Island have also made grants, some of which have been published.