“TOTE” RETURNS FOR GREYMOUTH HAVE SHOWN SLIGHT DROP

Greymouth Evening Star, 25 August 1949, Page 8

“TOTE” RETURNS FOR GREYMOUTH HAVE SHOWN SLIGHT DROP

The fact that the club’s net profits, totalisator returns and gate returns had shown a gradual decline in the last four years was disclosed by the treasurer, Mr W. E. J. Steer, at the annual meeting last night of the Greymouth Trotting Club. The totalisator returns for the year ended June 1949, showing a drop of more than £2OOO compared with the figure for the 1945-46 year. However, as he stated, the weather on the days of meetings was an important factor. For the year, he said, the net profit was £906 which was loyver than the actual profit for the previous year, when £64.3 had been spent on improvements to the track. Distribution of stakes exceeded any figure for the past four years, as did nomination and acceptance fees. A profit of £829 had been shown in the accounts for the Westland meeting.

It was pleasing to note that the mortgage liability had been reduced and that it now stood at £9OOO, compared with £12,500 in 1946. The cash in hand amounted to £3,200.

Mr Steer quoted the following figure’s for the last four years:—

Net profit.—l94G, £2388; 1947, £ll3 plus £B2l for track improvements;. 1948, £924 phis £643 for track improvements; 1949, £906. Totalizator returns.—l 946, £1.9,701; 1947, £18,670; 1948, £18,450; 1949, £l7 528. Stakes distribution. —1946, £6700; 1947, £7450; 1948, £7315; 1949, £'7470.

Gate returns. —1946, £2266; 1947, £2210; 1948, £2113; 1949, £lBO2. Nominations and acceptance fees. — 1946, £1580; , 1947, £1973; 1948, £2366; 1949, £2557.