AUCKLAND RACING CLUB

Evening Post, Volume CXXX, Issue 30, 3 August 1940, Page 15

AUCKLAND RACING CLUB

A satisfactory- season from every standpoint is reported by the president of the. Auckland Racing Club, Mr: O.Nictolsofc, in his address to be submitted. .to. members at the annual meeting; - The strong financial position of the club warranted the opinion that it. would be able. to carry on its operations "in, probably 4he less prosper-; ous years in the near' future without curtailment and undue anxiety. The balance-sheet for the year ending June 30 shows, assets totalling £179,016. The principal items are:— Racecourse £35,346, other properties £64,827, totalisator buildings and machines- £16;293, furniture and other plant £5822;t?'aining tracks £200, Government loan £20,000, cash £25,342.. The balance to capital account is £ 165,933 arid , the amount transferred to profit arid-loss account is £6007. • Members' ;-subscriptions yielded £3090; rents, grazing, and track fees, £1338; revenue from race meetings, £46,058; and interest, £836. ~ Salaries and pensions' absorbed £3266, wages £12,116, repairs and maintenance £10,535, donations £2413, taxation reserve £6500,* rates £2339, land tax and social security charge £2239, conference levies £1404, printing, stationery, and advertising £ 1523.

During the year stakes and trophies totalled £62,700 in value. Other race meeting payments aggregated £11,493. Receipts were derived from gates, cards, and privileges, £38,204, totalisator £72i072,: nominftibri^ and other fees £9259*' stakes -tax recovered from owners £626.