Metropolitan Club Has Profit Of £4242

Press, Volume CVI, Issue 31097, 28 June 1966, Page 5

Metropolitan Club Has Profit Of £4242

A profit of £4242 is shown in the accounts to be presented to the annual meeting of the New Zealand Metropolitan Trotting Club next Monday.

This profit was reached after providing £644 for taxation. Last year the club showed a profit of £4591. Six day and four night meetings were held during the season, says the report of the president (Mr R. W. Saun-

ders). The club was unfortunate that bad weather for three of the night meetings affected attendances. However, with the additional permit, the total attendances for the season were slightly higher than for the previous year. The club was greatly honoured by being entrusted with the running of a Royal meet-

ing, says the report. The meeting was an unqualified success and had formed part of the Easter meeting. Combined on and off-course totalisator turn-over had again exceeded £2 million and was £114,000 above the previous year. Both the off-course turnover and the combined turnover were the highest in the history of the club. The report refers to the deaths during the year of more than 30 members. No election will be necessary for any officers as only the required number has been nominated. The three retiring members of the committee who offered themselves for re-election are Messrs G. W. A. Green, D. McCormick and H. D. Matson. The club used 10 permits during the year, against nine the previous season. Stakes rose to £96,850 during the year, an average of £9685, compared with £9783 when £88,050 was given for nine permits the previous year. Expenditure There were no noticeable daily increases in items of expenditure, which included (with figures for the previous year in parentheses):— Government tax, £60,316 (£61,480); Addington Trotting Course, Ltd., contribution, £36,302 (£33,235); race meeting expenses, £18,185 (£15,535); totalisator expenses, £17,029 (£15,429); salaries, £4788 (£4416): and Trotting Conference levies, £4324 (£4469). Totalisator receipts amounting to £196,625 provided most of the income of the club, being well above the previous year’s £185,551. Gates receipts showed a surprising decline, amounting to only £17.509 for 10 permits, compared wtih £19,824 for nine permits the previous year.

Nomination and acceptance fees amounted to £15,159, compared with £14,257, and members’ subscriptions amounted to £7251, compared with £7061. The club received £7372 by way of interest on investments, compared with £7130. The increase in the price of race cards from Is to 2s is reflected in the profit of £3911 under this heading. Last year the profit was only £299. The club has cash investments of more than £65,000. The office property sold last week for £38,500 is shown in the balance sheet at £9147.