MANAWATU RACING CLUB

Evening Post, Volume CVI, Issue 48, 25 August 1923, Page 22

MANAWATU RACING CLUB

ANNUAL MEETING.

-' The forty-third annual meeting of the Manawatu Racing Club was held on the 23rd inst. Mr. J. Goring Johnston (vice-president) occupied the chair. Apologies for absence were received from Messrs. F. S. M'Rae (president) "and R. A. M'Kenzie. " ..'.; '".

The forty-third annual' report and statement of accounts • of the Manawatu Racing Club, presented at the annual meeting on the 23rd instant, states that the aspect of'last year's operations must; in the circumstances, be considered, quite satisfacl tory.' In consequence of the general depression still ■ existing ■throughout the Dominion, and, like all other clubs, states the report,.the Manawatu Racing Club has suffered a further reduction in the amount passed through the totalisator, amounting to £31,942,, as against £74,749 last year, but they were not so severely hit as other clubs. To compare this year's figures with the pre*A'?n« X^ rßj the fi«ures read : 1912-13, ±,108,823; as against this year, £180-SOo^-an increase of £72,022. This indicated that the club was still progressing satisfactorily: After allowing for -depreciation, amounting to £1529 17s, there, was a credit balance of £73 4s 9d against a debit balance of £998 15s 4d last year. The amount paid in taxation during the'year was £14,932 17s 9d The club's" actual contribution to this SSn^, as £501S14s8d; the balance, £9917; 3s Id, being collected and sent on to the Government. It was necessary for the committee to take into immediate consideration after the -AutumnMeeting the erection of a" stand for the outside;public. To.effect this and pay off;an overdraft at-th« bank, which: was covered by a-personal- - guarantee by members of-the. committee, £20 000 worth-of-debentures, at 7 per cent/ had been floated, v a nd £12,500 put on the" market. This'wag-immediately subscribed, and. a further sum of £3000 had since,been taken up, leaving £4500 for further issue when the money was re3T^.:^«?e f work now ./process. l£l>*?fi w?u ea Is year counted to fmh ?f' « \ *?*, oTer the Prescribed ? m°Wt?U O wea. U hder the rules of racMa «* the stakes for 1912-13..v ; The grounds, lawns, tracks' and appointments, at Awapuni were; well maintained by-the^caretaW, and' His stafi. A large outside stand was beins erected im: . reinforced concrete, capatt! of. seating about 1800 people, 'with" the below The committee desired, to thank ■toff C rat7 °ffif?t .and P^nen wWT, ?u .th, 6 ..^factory manner in vetoed. .- Th s .was much to be reeretted because the representation on that tatives on the conference against only' t%o representatives for the six other clubs m. the district. The TaranaH d£ ' net which had only fourclubs? had four for S^ S °l the ""^nce, two resenfaffn \*™ more reas'°nable rep-! reeentation than was given at present The issrnng of the trainers' and jpckeye' licenses, as carried out by the con lven a CeH COmmittJ eS ' WOrked »*£<££ fc^S^^^-P-ementon

. The hon, treasurer, Mr. C louisson ZIV U T°^ns <ke adoption of the f rt „m L nd balancWsheet, said inter aha: "The profit and loss account, when compared with clubs of similar turnover, can cla.m to be most satisfactory and «"?* advancf on our previous year Which showed a debit of £998 15s 4' iIM9 17s, is the amount allowed on »,»'JJ' The totshaator turnover was £180,845, as compared with £212 787 2f m ' :*«?, and the largest total. £IKT& mOT- l° r 1 Pl'e-War Period «• Sio 7n 96 n0whl(31 Sh°WS * -***»* s/'^^TT*-^ x counted to £506 ss, the highest yet raid, which is an indication that the popularity oj the club s meetings =is , still increasing The president has referred-to the facf thtt the committee has kept down the e^enSrtraH ■' P™senfc vsland accommodation would not have been undertaken, only tW committee _was fully satisfied that some consideration nmst be riven tn ?£« * public, and when tnMlwol it cotnp eted it, ]8 anticpated -,'no further improvements of. anv^ mbnient im be earned out for some time to come, with the exception, of "maintenance by- wav cou^ m tbJlg' ?t% The count th. s year has^oeen reduced to fear I thitf r^ £^ lJ*- lOd *>* year. I think I ca n claim that the club pu^^ad^^6^- • The ;election,,pf officers resulted a* •follows :-Pre6ideiit, Mr. R " Abra ham j Messrs. •ji Gorine •ureasnrer, Mr. C. Lomsson, iunr • mem bers or committee. Messrs. N. 'bS" more G. C. Keeble, F. S M'Raf W ■ Randell, and E. Wood. " ' ' 1 A 7#? ,oi thanks and appreciation was carried to the secretary \lrj M Johnston, and his staff V 'Ml •anriT Ir Vlng t he ad°Ption of ' the" report ana balance sheet the chairman reffl ' maH J Att tHe clu^ ~uld show a M 1 credit balance of £73 As 9d after anting off £1529 17 8 , which placed it L a much better positipn.than Fast year Vvn* ,!-7 ear th?'Pre«ident reported an expenditure-on improvements of £14 647 tt,A ? et r £h- e only mpravement had been undertaken was the outside stand, which was only just commenced, but the committee anticipated havmgut finished for: ..the'; 'Chri^ma., Meeting, and a new seven furlong start immediately behind the six furlong start, the draining of the course and a certain amount of re-turfing. The committee had m every way kept down expenditure, with the result of a saving of £5852 compared with last year, £3830 was ac: ."counted-for by tho reduction in «take«, i and the balance was spread over all th»

other items. The decrease in receipts amounted to £4938 compared with last year. This was mostly accounted for by - the- reduced turnover' on the machine and entry fees. The club submitted some important remits to the Racing Conference, but they were not carried