SMALL LOSS ON YEAR

Evening Post, Volume CXVIII, Issue 32, 7 August 1934, Page 11

SMALL LOSS ON YEAR

MASTERTON .RACING CLUB

"-After allowing; for depreciation of jSjAX 3s 9d, a net loss of £103 ls;.ld, on- tho season's o.peratipng is: fihowu in tho report: and ;balance-3hoet to ; be, presented to the annual general meeting ;of the Masterton Baeing;Club. The; cluh held: only one day's racing during the season; which produced a profit-of £286 7s sd, but general, expenses and' the preliminary costs attached to the; abandoned meeting in the .autumn caused a;loss to bo recorded for the; full .year. ;/■ •:■-■.-. ■:■:.:, ■?-:■■■ ■;.-, '•... .■■■;;.: !; ~lt ,was because the nominations. received for the Autumn Meeting were, not considered. sufficient to ensure that a successful fixture would result that the stewards decided to abandon that meeting rather, than face the prospect of a financial loss, tho report states. Past experieneo has proved that the autumn dates allotted;to the clul are j too close to-Easter, and'whereas-the] club has :had. successful ..meetings in the spring It has not always been so fortunate with the autumn fixture. The stewards, therefore, have decided\ to! hold a two-day Meeting' on; October 12 and 13 next, ono week befpre . the. Wellington. Spring Meeting.'' • • \ Following on the loss of £389 3s 5d on the Autumn Meeting last year, the report continues, the stowards were faced with the problem-of.finding sufficient cash to pay liabilities, incurred on that meeting and of keeping within tho club's limit at .the bank. After &s> ploring all' avenues' available, they: flef cided to accept the offer of £300 made by tho WelliiigtonEacingClixb for one of the club's totalisator days. , . ;

Befereiice is: "also made in the roport to a meeting Held on April 20 -lastj at which a full explanation, was.given : the public as to the financial position of the club. It was'decided unanimously at that moeting that; tho clnb should continue its"activities, aid a.campaign was decided on-to increase the mem; bership by 150 to 200 members, which, would enable the club to balance" its budget apart from racing. Since then 145 now members have joined the club, and fresh applications-are still being received. ,-, ....■-•.. •' ..■ ; .-..;..;