Stakes subsidy scheme effects on Marlborough

Press, 15 September 1976, Page 26

Stakes subsidy scheme effects on Marlborough

H The revised stakes subsidy ■ i scheme, as applied la&t season, -enabled the Marlborough Racing 1 Club to increase stakes for the minor races but the static state of stakes for the major races made it appear thatt the role of the club was one of catering for the lower grades. This is the opinion of the club’s , president. Mr J L R Loe, who will present his report on the ‘ year’s activities to members at 1 the annual meeting this evening. Mr Loe feels that the Govern- * ment’s recent taxation relief of 0.5 per cent of on-course totalisator turnover is miserable when it is considered tl ■ club’s totalisator commission

. amounted to 5Z0.444 :<nd totalm,|tor taxatior was 5103.481 • Mr Loe viH tell meniDers mat, *! although a drop uf siB,tKj to a • (total of $3V1,745, in on-coura« , tui noi er v - as disappo nting thia [iwas compensated tor by an o\ei. • [cord $1,201,615. Nevertheless, the club's lof.> on B ithe 'ear's workings wa s J compared with a loss the previ- ’ ous year - of $5360. L Next to revenue from tlie total. • isator, tire chib's principal race ’ meeting income came from the 1 Totalisator Agency Board s dis- ■ tribution of profits, nominations ? and acceptances, members' sub- ! scriptions and gate receipts. 1 The respective amounts re- ; eeived from these sources were *20497. $6286. >3069 and $2254. Stakes foi the three da? bm eting amounted to $35,715, ot which $11,315 was provided by tlie Xew Zealand Racing Authoriti Other major expenses were wages and salaries ($5442), entertainment <52276i. printing, stationery and advertising horse convex a nee subsidies ($3239i, Racing Conference levy -$2948 . and ad ministrative expenses After deducting the loss for the year, tlie club’s accumulated • funds at balance date, Ju nt 30, ? amounted to $63,922 1 Prix Royal Oak— A : Longchamp Mr Nelson 1 Bunker Hunt's Exceller, nd- ; den by Georges Dubroeucq ! won the $70,000 Prix Royal [ Oak, (one mile ) the trench equivalent of the St Leger, . by four lengths from the \ English-trained Sir Montagu, h Adam Van Vianen was third •|of six runners, half a length ibehind the runner-up