GOOD PROFIT SHOWN

Evening Post, Volume CXVI, Issue 31, 5 August 1933, Page 7

GOOD PROFIT SHOWN

AUCKLAND RACING CLUB

A profit of £1567, after writing off £5200 for depreciation and £300 for possible bad debts, is shown in the statement of accounts of the Auckland Racing Club for the year ended June 30. Last year there was an adverse balance of £029, which was increased by writings-oil to £2683. In congratulating members on the result of the season's operations, the report state that a satisfactory feature is the reduction of the bank overdraft, which now stands at only £2502, as against £9510 last year. The committee recognises that the future of racing depends upon upholding tho traditions of the sport and maintaining as high a level of prize-money as possible in order to encourage the breeding and racing of the highest, type of thoroughbred, tho report adds. _ The club, it is pleasing to' say, is doing its utmost in this direction. For tlie four race meetings held by the club £33,015. was distributed in prize-money, which included a sum of £90 contributed by owners as sweepstakes. The racing throußhout the season was first-class, the holds being good as to number and quality and the finishes most interesting. The committee regrets that during the past season several members have passed away, notably the esteemed president, Mr. 11. O. Nolan, for so many years closely connected with the affairs of the club in official capacities, and Messrs. O. A. Brown and W. O. Ring, members of the committee. To the relatives of these and other members who died during the year the club's deepest sympathy is extended.