"ROCK-BOTTOM"

Evening Post, Volume CXV, Issue 121, 25 May 1933, Page 12

"ROCK-BOTTOM"

MR. COATES'S MESSAGE

RUGBY UNION REFERENCE

"As I see it, wo will all.be in trouble," remarked Mr. W. J. Wallace at a meeting of tho New Zealand Rugby Union's management committee last night, when the position of one Rugby Union in meeting its financial obligations in the present times of economic stress was brought to tho notice of the controlling body. "No," said Mr. 11. S. Leith reassuringly. "I see that Mr. Coates has a very hopeful message in tho paper tonight. Henays that we have reached roek-bottoin." Tho financial outlook for the present season so far as the New Zealand Rugby Union is concerned was briefly surveyed. It transpired that there was little prospect of much revenue from matches, the season being a very lean one in the matter of New Zealand-con-trolled revenue-producing events; in fact, the union would be dependent upon the inter-Island match, another fixture under its jurisdiction not holding out much prospect of showing a profit. There would, of course, be another source of revenue, the chairman (Mr. S. S. Dean) pointed out, in the interest due on loans. However, there was the case before the committee of one union making application for interest due this year to be waived. The application was from Thames Valley, and the extent to which the Rugby Union there, as well as the community, was feeling the pinch was indicated in a letter which stated: — "The Thames district has been badly hit by the depression, and the number of unemployed in Thames is the Highest' rates in New Zealand proportionate to tho population. Tho union has struggled ou and to date have kept their payments up despite the fact that the revenue has gradually declined. In addition, to'secure the benefits of Jubour under the unemployment schemes my union have pledged their credit with local business people to the utmost. . . Another1 factor that is causing tho guarantors grave anxiety is tho present position /of Thames borough. You are doubtless aware of the fact that a commissioner is in control of the borough, and that the rates are a burden which is slowly crushing the community." ■ ' , While recognising that times were difficult, the chairman (Mr. Dean) thought that if Thames wanted any -remission they should get it from the Auckland Union which was the mortgagor. The New Zealand Union at tto pr6sent time could not see its way clear t meet tho request. "We will have to hold it over until times get better," suggested Mr. A. O. Kitto., It was agreed that Auckland, ns guarantor, should be asked to meet tho payment.