RACING “Government Taking Too Much Out Of Racing”

Press, Volume CVIII, Issue 31716, 27 June 1968, Page 4

RACING “Government Taking Too Much Out Of Racing”

“It has been said time and again, and very rightly, that the Government is taking too much out of racing, approximately $l2 million a year,” said the retiring chairman, Mr D. W. J. Gould at the annual meeting of members of the Canterbury Jockey Club yesterday.

Mr Gould said that concessions should have been granted in 1965 when the two conferences made their applications.

“However, with New Zealand’s economy in its present state it is useless to expect the Government to make concessions to one section of the community —the racing and trotting clubs—even if it is fair to say that its drag of $l2 million a year is going a fair way towards killing the golden goose.

“That some means of finding additional revenue must be sought for both racing and trotting clubs is inevitable, and various proposals are now being studied by the two conferences,” Mr Gould told members. Mr Gould said it had been a disappointment, but not a surprise, to find that the club had made a loss of $15,711 for the financial year. However, that loss was small compared with figures that would be shown by some large North Island dubs when their balancesheets appeared later in the year. Stakes Maintained Although some large northern clubs had made substantial cuts in their stakes in the present season the Canterbury Jockey Club had decided as a matter of policy to maintain them for the season and was doing so again for the Grand

National meeting, Mr Gould said.

“Owners, trainers, and jockeys are having a difficult time in the South Island and it is imperative that if at all possible the Canterbury Jockey Club maintain its stakes.” Mr Gould reviewed a season which had produced racing of the highest class and with particularly strong North Island representation at the New Zealand Cup meeting with resultant good attendances. The on-course totalisator turnover for the first two days had been up, but there had been a fall over the latter part of the third day—“the cash just seemed to have run out after five days racing and trotting in Christchurch during carnival week.” Club’s Efforts He outlined to the meeting the club's efforts extending over almost two years to provide additional stabling accommodation for both visiting horses and for local trainers at Riccarton. There had been delay and the club had been put to considerable legal expense but the matter had now been resolved satisfactorily. Mr Gould said that it had been a matter that concerned the very lifeblood of racing, not only in Canterbury but in the whole of the South Island He added: “Riccarton must remain the principal centre for training and racing and the rapid absorption of the local training establishments for sub-division was sounding the death knell of Riccarton as a training centre." In seconding the motion for

adoption of the report and balance-sheet, the retiring honorary treasurer (Mr P. D. Hall) said that the club’s future commitments included the building of 30 additional boxes for visiting horses—contracts for their erection had been let and would cost about sl3,ooo—and the building of boxes and yards for leasing to local trainers, no contracts for which had yet been let. The balance-sheet disclosed a loss of $15,711, compared with a loss of $10,524 the previous year. The increase was accounted for by higher costs amounting to some $4OOO, and a further decline in receipts from the totalisator. “Unfortunately our oncourse figures suffered more than our share of T.A.B. profits which, In fact, showed a slight increase,” said Mr Hall.

“The likelihood of such a position arising was, of course, apparent at the beginning of the year and the question whether the club could maintain stakes at last year’s level became of the greatest importance. “After a great deal of careful thought it was decided to maintain stakes at last year’s level, budgeting for a deficit.” Difficult Times Mr Hall said all clubs in New Zealanad were facing difficult times. Most major clubs were showing deficits in spite of making substantial cuts in their stakes, and some would have to rely on overdrafts to continue.

The capital position in the club’s balance-sheet had increased by $24,000, due partly to a credit from the i per cent

levy fund and partly tn sales during the years of the Buchanans Road sections. Mr Hall said that all but one of the sections had been sold.