C.J.C. SHOWS LOSS

Evening Post, Volume CXXIX, Issue 111, 11 May 1940, Page 21

C.J.C. SHOWS LOSS

A loss of £791 15s lOd on the past year's operations compared with, the substantial jprofit shown the previous year is VeveaTSd In the statement of receipts and expenditure of the Canterbury Jockey Club.

The annual report states that the loss is largely accounted for by the reduction of over £5000 in revenue, due to the Government's decision to discontinue the rebate to clubs of the 1 per cent, on the totalisator investments, also to the cost of reconditioning the private railway line from Sockburn to the racecourse.

'■ Stakes had again been increased and in the circumstances the position was considered quite satisfactory. Receipts, including a credit balance carried forward of £ 12,050 6s lid, were £98,717 7s lid, made up mainly of £11,678 14s Id from gate receipts. £60,744 14s from the totalisator, and £-6447 from entries and forfeits.

The principal payments were £27,415 9s lOd in Government taxes, stakes accounted for £36,685, salaries and wages £6757 9s Id, racecourse maintenance £1764 18s 3d, and race expenses £4106 14s lid..

The requisite number having been nominated for the committee no election will be necessary. Thirteen nominations for the Positions of stewards have been received, and as twelve is the requisite number, an election will be necessary.