LOSS OF £249 Banks Peninsula Club’s Year

Press, Volume XCV, Issue 28314, 27 June 1957, Page 4

LOSS OF £249 Banks Peninsula Club’s Year

After providing £303 for depreciation, the Banks Peninsula Club showed a loss of £249 for the year ended May 31. The club received £2704 from the Totalisator Agency Board compared with £2471 the previous year, an increase of £233. The report of the chairman, Mr E. E. McCullough, records that entry fees were up by £B3 and that expenses were £17,572, a decrease of £275. Stakes were £l7O higher, and repairs were down by £653. The club had installed photoequipment during the year and had used it at the October meeting. A cafeteria for jockeys and fire protection equipment had been other improvements. Turnover for the spring and summer meetings were much the same as the previous year. The on-course turnover was £79,599, as against £80,465. The off-course figure was £75.424 compared with £74,288. Income totalled £17,323, and chief items were totalisator £14.418, nominations and acceptances £941, Government refund £5OO, gate receipts £492, subscriptions and privileges £439, race cards £305, rent £lO4, and interest £ll9. Stakes accounted for £6300, Government taxes £6826, salaries and wages £1329, advertising, printing, and stationery £775, repairs and maintenance £662, and general race meeting expenses £682. Assets are shown at £9559.