Dog racing club faces collapse

Press, 8 March 1978, Page 6

Dog racing club faces collapse

By

BOB SCHUMACHER

Greyhound totalisator racing at Queen Elizabeth ill Park — a dream cherished I by supporters of the sport forj many years — might notj eventuate Totalisator betting was to' be introduced in August, but' the Christchurch Greyhound Racing Club faces a crisis andi ratepayers mav now lose! what many had hoped to see — permanent use of the park. Last year the club showed a loss of just over Slo.oooj ment of the club's affairs are not encouraging. In his report tabled at the annual meeting of the club last evening, the accountant; .said that the club could be considered insolvent. If the fixed assets (the facilities at Queen Elizabeth II Park) were ignored, the other assets would not cover the’ current liabilities of the club.; “The club is in no position to borrow funds for capita! additions or alterations unless they can be borrov’ed free of interest or further substantial income can be received to service the debt.’’ the report said. “As things stand now. club members could find them- ( selves personally liable for any moneys borrowed unless the club's financial position was brought to the notice of the intended lender at the time of the approach.” The plight of the club was accentuated bv the com-

tnents made by the outgoing [ president (Mr G. E. Louden) I land the present secretary ■j(Mr G. H. Kingston). :} Only two nominations •were received for the seven >■ positions on the executive Land, although the positions I'of president and vice--president were not discussed, si it is believed that no nomin- ; ations were received for . those posts. i “The minimal response is )! disturbing when we are on the threshhold of totalisator’ • racing. It appears we do not! want the totalisator — wei • appear to be happy with the! > status quo and to stay with -the equalisator,” Mr Louden; • said. Mr Kingston, a member of the nationa Icouncil, said:| ! “Our chances of getting the| - totalisator are bloody well !>nil. How in the hell can we. .j justify a totalisator when we i are in debt and no-one gives Fa damn. The present interest is for people to race I! their dogs and go home. The ■I attitude of stewards is to ■ rush to the bar. We are a ’ prospective totalisator club and with that attitude we > i will get nowhere.” •• The meeting decided to -’extend nominations to March 528 for executive positions! i and a special meeting will bej -held on April 4. The future Jof the club and greyhound j racing in Canterbury is ;! likely to be decided at that ■ meeting.