ONE OF BEST YEARS ON RECORD

Dominion, Volume 32, Issue 256, 27 July 1939, Page 16

ONE OF BEST YEARS ON RECORD

Auckland Trotting- Club Dominion Special Service AUCKLAND, July 26. “It gives me great pleasure to announce that the club has experienced one of the beet years on record, the totalizator handling the creditable turnover of £463,546 10/-, this amount being surpassed on only one’previous occasion,’’ said Mr. E. G. Bridgens in his presidential address at the annual meeting of the Auckland Trotting Club. “Though through the increased spending power of the public the majority of sporting bodies have enjoyed a rise in revenue, I am firmly convinced that much of the success of the club is because the public has more confidence in the sport and is becoming more trottingminded.” After writing £4846 off the Alexandra Park assets nnd £23 Q 0 off the Otahuhu property and plant, there remained a balance of £4090 to be transferred to tne capital account as net profit. Negotiations for the sale of the Otahuhu property were in progress but had not yet been completed. Tn accordance with the committee’s policy of reducing the club s liabilities, debentures to the amount of £15.700 had been redeemed during the financial year and by agreement with the debenture-holders the remaining debentures had been extended for a further term of five years at 51 per cent, per annum. The report and balance-sheet were adopted.