DUNEDIN JOCKEY CLUB

Evening Star, Issue 19615, 22 July 1927, Page 3

DUNEDIN JOCKEY CLUB

MR LINDSAY ELECTED SUBSCRIPTION FOUR GUINEAS Two matters of importance being scheduled for the annual meeting of tho Dunedin Jockey Club last night, there was a large attendance, about eighty. Mr A. C. Hanlon (president) took the chair, supported by Mr L. C. Hazlett (vice-president), Mr J. A. Armour (treasurer), and Messrs W. H. L. Christie, J. A. Cook, W. J. Goughian, C. N. Draper, A. H. Fisher, B. S. Irwin, G. A. Kain, and James Smith (committeemen). Dr Hall, who has been on the sick list, and Mr E. H. Lough, who was out of town, sent apologies.

THE FINANCIAL PROBLEM. Mr Hanlon, in moving the adoption of tho report and balance-sheet, said that the re-erection of the members’ stand was very well advanced. The question now was whether they would bo able to go on with the erection of the three storeys and complete the building as originally designed. Looking at the matter from the financial aspect, it appeared to the committee tliat it would bo impossible to complete the three storeys on tho present income. There had been a falling off in tho totalisator receipts, and the only way the committee could see to finance the undertaking was to increase the subscription. For that reason he would later, with the approval of his committee, move that tho subscription be increased to five guineas per annum. If members could not see their way to approve of that, then ho was afraid that the committee would not be able to complete the building in the meantime, but would have to put some sort of covering over the two stories already erected, and to carry on as they had been doing, so far as the convenience of members was concerned, until they could get enough money to get the third story erected. Members would have seen for themselves at the recent meetings that extensive improvements had been carried out at Wingatni, and it only required the completion of the stewards’ stand to have their course worthy of tho importance of tho city. They would see fx-om the balance-sheet that the club’s revenue again showed n loss (this year of £937). During the year the club had lost the services of Mr H. L. James, who resigned the secretaryship owing to failing health. Mr James had served .the club for forty-six years, and naturally they had been sorry to lose him. He thought that in the appointment of Mr Hill as their new secretary they had made an appointment which would meet with the approval of members, and he felt sure work for the benefit of the chib. Mr A. B. Armour seconded the motion. The shortage in the revenue had been caused to a. largo extent by the interest they had to pay on their debentures, and by tho difference between the value of the stand which had been burnt and the amount they had received from the insurance company. There were three ways by which they could increase their income. They could increase tho subscription foe; they might decrease the stake money—which was quite small enough as it was, considering tho size of the town of Dunedin; or the committee might join in a guarantee to the hank-, a procedure which ho was sure members would not wish adopted, 'flic position was really in the hands of members, and he imped they would give the chib all the assistance possible and vote for the motion.

In answer to a question Mr F. W. Mitchell, Mr L. G. Hill (secretary) said that there were fourteen outstanding subscriptions last year, and Unit there were still some outstanding from the previous year. At the time they had received the insurance money on tho building which had been burnt it

mod in their hooks :it £5,247 —that was only tho hook value For some time --Hie insnniDfc money mi id came to ,£5.000, and tlio £247 was carried to the profit atu| loss account. The motion was (hen put and carried. OFFICE-BEARERS. Air A. C. Hanlon was re-elected president unopposed,, and Air L. C. HazIctt was elected vice-president, also unopposed. They returned thanks for the token of coniidence. On the motion of Mr James Smith. Mr Cl. M. Maclean was reappointed auditor. Thy scrutineers for the committee election were Messrs V. S. Jacobs, J. Kellehar, K. Ramsay, A. E. J. Blakeley, J. Goldsmid, and G. Hay. They reported the poll as follows: li. S. Irwin (248), Dr A. J. Hall (22G), James Lindsay (191), A. B. Armour (171). elected; W. F. Sligo (I'll), C. A. Shiol (•52), H. AY. Phillips (44), The result is that three of the retiring members are re-elected, and Mr J. Lindsay is appointed to the vacancy caused by Air Cambridge’s retirement. THE SUBSCRIPTION. Afr Hanlon moved, on behalf of the committee—“ That Rule 12 be deleted and the following substituted The annua! subscription shall he £5 ss. In the event of a member being elected after six months of the year have expired he shall pay ,£A As for the remaining portion ot that year.’ ” In speaking to the motion be said that if they were to complete the members’ stand it would be necessary to get more money from somewhere, and the committee thought the raising of the subscription was a fair way of doing so. There were nine days’ racing at AVingatui in. the season, and the ordinary admittance fee was Ids Gel, so that a nenInembcr would have io pay £-1 14,s (id. A member,moreover, had the right to lake in Ins car free of charge, while non-members had to pay 5s per day. This meant a total on the year ol another £2 ss. Further, members had 1 he use of the top of the stand, and if they liked they could make it a rule to take their ladies nith them, and the conveniences on the stand would be. so ample that no member need leave it except between whiles to obtain a litlle information. For the three guineas fee the Dunedin Jockey Club nas at present giving more advantages than any other similar club in the dominion, lie did not think that members desired to have these privileges at the expense of the club, nor did he think that five guineas per annum was too much to nsk for the privileges provided.

Mr J. A. Cook seconded the motion. He said the accommodation now existing Imd been provided thirty years ago, and since then the town had gone ahead very considerably, and the number of people who attended the races had also largely increased. It was manifest, therefore, that the accommodation originally provided was insufficient at tlie present day. H, however, members consideiod that tlie existing accommodation was sufficient they would just have to go on the nest way they could with the present subscription of three guineas. The extra story was going to bring the cost of the stand to something like £13,000, and nearly the whole of that would have to be met by borrowed money. They must remember, moreover, that on this kind of loan they had to pay greater interest than on Government loans or investments of a similar character.

Mr A. H. Fisher remarked that the club had already raised £IB,OOO on debentures, and it would not be fair to the debenture holders to mince the value of their security by issuing more debentures. The proposed increase in the subscription would not pay for,the re-erected stand, but it would go a good way towards providing the interest for it. In answer to questions Mr Hanlon said that the cost of the two stories only was £6,C00, and that with a membership of 400 and increased subscription of two guineas they would he able to pay the interest required. The third story, including the ramps, meant another £3.600. If the work was not

gone on with now it meant an additional outlay of about £1,200. Mr J L. Christie expressed the volition ihat the expenditure of £btW on new stalls was unnecessary. Mr 1 1. C. Haslett replied that tho new stalls which had been put up before tho Juno meeting were required, in addition to the accommodation provided by the old stalls. The new stalls could not have been done without. They were one of the most necessary things on tho course. Mr W. F. Sligo remarked Unit tho stakes could not be reduced, as they came to an average of only about. 42-30(1 per race for the seventy-two races ol the season. The taxation was very severe. The Government was going “ lifty-fifty ’’ with Ihe clubs and taking no risk. Ho was not in lavov of any of the committee being asked to agree to a joint and several guarantee at tho bank, and lie hoped that the members would vote for the motion. Mr Bruce Smith wanted to know if the committee had considered the ques--tion of reducing the Wintei Meeting to seven races per day. He thought that the club lost money over the first race each day. Mr Hanlon answered that the committee had considered this point. It thought it.better to stick to the eight races, because it did not think it ran tile first race at a loss. It was intended in future to start the winter races a quarter of an hour earlier. The committee did not think _ the club would lose many members if it raised the subscription. They would, anyway, get others. They were getting members regularly, and the five guineas would iiot prevent their joining. Mr Hanlon further said rhar. .f the motion were lost (and the second motion earned! r hey would not be able to put on tli© third story right away, but it would enable them to put tbs work in hand at an earlier dale than unde' - the .three guineas subscription. There was no prospect of a reduction in the Government taxation. The motion to raise the subscription to five guineas was then put and Inst 'by 42 votes to 3S.

'Mr C. Hensley then moved—“ That Rule 12 he deleted and the following rule substituted :—‘ The annual subscription shall lie £4 4s, payable on llio first day of August in each year. All members elected after the first day of July. 1927, shall pay an entrance fee of £i Is. In the case of a member being elected after six months of the year have expired, lie shall pay the entrance fee and £2 2s for the remaining portion of the year. Newly-elected members shall pay their subscriptions wSthin one month after their election.’ ” Mr G. J. Barton seconded this motion, and it was carried by 48 to 32.