IMPROVED FINANCES

Evening Post, Volume CXXX, Issue 26, 30 July 1940, Page 11

IMPROVED FINANCES

WELLINGTON T.C.

REMARKABLE ADVANCEMENT

> In his presidential report to be prei sented at the annual meeting of the ■ Wellington Trotting Club, to be held i on Wednesday, August 7, Mr. J. E. » August makes reference to. the won--1 derful progress made by the light- '■ harness sport since 1937. ■ "At the stlrt of the 1938 season the '' club's bank overdraft amounted to • £1118 8s 2d. At the moment there ■ is a credit of cash amounting to £6668 ! 15s sd, and in addition during the past • three years we have expended on im- ; provements at the Park £2389 8s 9d," • states Mr; August. "Our cash surplus 1 over this period has therefore amounted •to £10,176 12s 4d. The season under review has been beset with financial and other difficulties occasioned by the 1 war and also by the loss of the 1 per 1 cent. Government rebate of totalisator : tax. The rebate would have returned the club this season an extra £1760, which, added to the profit of £2751 Is 5d recorded, would have exceeded the previous record profit by £1131. "The satisfactory financial return for the year affords ample evidence that all problems to date have been successfully/ dealt with. The stewards consider that the amalgamation with the Wairarapa Trotting Club has materially assisted in the results of the season's operations. In addition to the substantial increase in membership subscriptions, there is an enthusiastic band of trotting sportsmen in the Wairarapa who are popularising the sport in that centre and who constitute a large body of keen sportsmen at all our meetings. IMPROVEMENTS TO FACILITIES. "During the season the open extension to the members' stand was completed. It is to be regretted that it is not possible to construct a roof over this stand, but this would obscure the view of the straight from the adjoining public stand. Twp large dividend indicators were installed, firstly to provide necessary dividend information to our public, and secondly as a first step towards the installation of the semi-electric ticket-issuing equipment. However, the installation of this equipment has been held up by the war. At the moment, plans and specifications are being advertised for the construction of a new women's cloakroom to be erected to the south of the members' stand. "The training tracks have been heavily topdressed and drained where required, and the grass racing track has been topdressed and manured, and sowji with grass seed down both the back stretch and the front- straight. For the coming season the tracks will be in first-class order. TAXATION PAYMENTS. "The club's activities again resulted in a substantial addition to the national exchequer by way of taxation, £17,438 5s Id having been handed over to the Government. For the first time in the club's history income tax levy was imposed. During the coming season extra taxation'will be a heavy burden on the club's finances. However, there is no doubt of the urgency of the Government to explore ■. every taxable means to further, the war effort, and tJiis club will cheerfully assist in every possible way to pull its weight till the war is brought to a successful conclusion. "Though last season the club enjoyed the use of the two Wairarapa dates, it lost to Wanganui the permit it had had for some years and which was originally used by the JHawke's Bay Trotting Club. This loss was serious, in that the club has been agitating for extra permits for some years past. There is no doubt that if this club is to progress, extra permits are urgently necessary. For the coming season application has been made for eight days' racing and every effort will be made to obtain satisfaction in this respect."