MANAWATU A. AND P. ASSOCIATION

Evening Post, Volume XCII, Issue 41, 17 August 1916, Page 2

MANAWATU A. AND P. ASSOCIATION

A NOTE OF WARNING.

At a meeting of the Manawatu A. and P. Association, held this week, pointed reference was made to the financial posiof the association, and the treasurer (Mr. R. M'Knight) struck a note of warning which has, according to reports to hand, created a .deep impression. '.'lf this association," said Mr. M'Knight, "is to maintain its prestige, or perhaps I should say maintain a sound financial position, it, like every successful business institution in existence, must increase its revenue proportionately to its liabilities, otherwise with a set-back through bad weather or some such contingency that cannot be foretold or avoided, it may be forced to realise its assets—perhaps at a time when realisation might result in barely sufficient to liquidate its debts. I do not wish to appear pessimistic; I merely sound a word of warning, and in so doing would just like to add that common prudence calls for a serious review of the position in ©very phase, more especially seeing that we are passing through times which, though at present comparatively prosperous, may ba followed by a period of extreme depression."

The following recommendation of the Finance Committee was adopted unanimously:—"That in consequence of the high-class prices of materials and the uncertainty of the present financial position, the Finance Committee cannot see its way to recommend any further expenditure in new buildings at the present time, and that horse exhibitors are requested to accept present accommodation until such time as the war stress has passed. 11