POVERTY BAY PARK COMPANY.

Gisborne Times, Volume V, Issue 110, 18 May 1901, Page 4

POVERTY BAY PARK COMPANY.

ANNUAL MEETING. The thirteenth annual meeting of the Poverty Bay Park Company took place last night, there Being present: Messrs G. Mat-bewson (President), T. J. Dickson, W. Adair, J. A. Harding, D. Hepburn, D. J. Barry, J. Martin, H, Maude, M. G. Nasmith, J. Maynard, McKenzie, It. Harper, J. E. Whitby, W. King, E. Cameron, J. Priee, W. Gault, A. F. Kennedy, H. M. Porter (Secretary), and Captain Tucker. The report tmd balance-sheet were taken as read. (The report has already appeared in the Times.) The Chairman said that it was his duty and pleasure to move the adoption of the report and balance-sheet, which was not unfavorable. They were out of debt for the first thne, and had been justified in making required improvements. The balance-sheet was, indeed, better than it looked, for the railway was cutting through the ground, and would take up some that was not wanted for the Club’s purposes—three acres—and for that they would get from £7O to £BO. Their thanks were due to Mr Stewart ,the engineer, for the trouble that he had taken to meet the wishes of the Club in regal'd to the construction of the railway line in a way to give them all facilities. The Club should record

their thanks for the courtesy shown in the matter. Their object when securing the park was to have a place that would be handy to the town, and the facilities that would be given by the railway would enable them to make of it a district sports ground. There were 13 or 14 acres of land near the main road that was of no use for racing purposes, and the object they had steadily in view was to dispose of that land and devote proceeds to-improving the land near the grandstand, so that it could be used for all football matches, etc. Nothing definite had yet been done in the matter, but they had something of the kind in view. He congratulated the Club on the satisfactory condition of things. Mr Harding seconded the motion for the a.doption of the report, which was carried.

In regard to the election of directors, the President said there was a question to consider whether the directorate should be reduced, but the opinion apparently was that no change should be made. On the motion of Mr Harding, seconded by Mr Harper, Messrs Hepburn, Maude, Tucker, F. A. Martin, and Tuohy wero unanimously re-elected. On the motion of Captain Tucker, Messrs Lunn and Witty were re-elcctccl auditors.

Captain Tucker said it seemed to him that the time had arrived when the Company should be paying a dividend, however small. He was not prepared to propose anything to indicate how this should be done, but after the number of years that had elapsed he thought the time had arrived when there should be a dividend of some kind.

The Chairman said they could all sympathise with Captain Tuckor’s remarks.

In reply to Mr Harding, the Chairman said the Racing Club’s present term would close with the end of the racing season on July 31st. In reply to Mr Dickson, the Secretary said that Mr Kirkpatrick’s lease of tho ground for grazing purposes would terminate on 31st October, 1902, and tho Chairman said that Mr Kirkpatrick had informed him that ho would be only too glad to relinquish the lease any time.

The Chairman said that while it was quite true that there had been no dividend paid , out directly, they got it indirectly. [Captain Tucker laughed at this statement.] They had started with a debt of over 112000 and had paid for everything, excepting that they had incurred a further expenditure that was absolutely necessary (£410) to put everything in order. They had paid off .£2OOO, and had the land, buildings, and everything. For the first two or three years the Racing Club had handed over the profits of the racing, one year as much as .£6OO was handed over. 'Everything was now in good order, and no other district in New Zealand had better buildings, accommodation, and course for racing than tho Park Company’s ground. They had been allowing a substantial sum for dqpreciation. The aim of the directors had been to make everything as complete as they could, and with the railway facilities they should be able to make profitable use of the grounds for sports. They had had to reduce the Racing Club’s rent from £SO to £55, but if the next meeting turned out successful no doubt the Club would be

prepared to increase tho amount again. It had been thought there might be an amalgamation of the two racing clubs, but anything of that sort must come from the clubs, though he was quite sure that the Company would meet them liberally. Mr Dickson: We can do nothing with it; we are in the hands of the Gisborne Racing Ciub. Mr Nasmith : And very good hands you have been in.

Mr Harding proposed that beforo any new arrangement be entered into a special meeting of the Club be called to consider the matter.

Mr Dickson seconded the motion. Ho went on to refer to matters connected with the management of the ground, and said that he had seen a horse on tho lawn and bedding, showing that someone had been sleeping in the reporters’ room. If lodgings were to be given anyone, they should, he said, be provided in the kitchen or other outbuildings; otherwise, there would be great risk in the matter of insurance. If they were going to take in lodgers, they should derive a benefit from it.—(Laughter.) The Chairman said that such matters should be looked into, but as for the custodian, he was sure they could get no one who would do so well for them under tho arrangement as Mr Knight (a view with which mombers agreed). He occasionally needed help, and the man had to sleep somewhere.

Mr Dickson said he was not saying anything out of bias to the caretaker, but just called attention to these points. Mr Kennedy said he agreed with the motion in regard to a special meeting, as ho thought they had not sufficient general meetings of the Company. The Chairman ruled that, according to the articles of Association, the motion could not be discussed that night, but he would accept it as a notice of motion. He had no, doubt, though, that the Directors would fall in with any suggestion from shareholders. Mr Price also spoke, urging that it was time the Company was paying a dividend. At the meeting of Directors, Mr G. Matthewson was re-elected Chairman.

Some discussion took place with regard :o correspondence which had passed between the Agricultural Association and

tho Park Company with, regard to a drain on the racecourse. It was stated that the Agricultural Association had written, asking the Company to do certain work, and the latter had replied expressing their willingness to contribute half the cost. No reply had been received from tho Association. The total cost of the work was estimated at £35. The Chairman ruled the discussion out of order, as there was nothing before the meeting. Mr Maxted, builder and contractor, waited upon the Directors, and asked them to have the work which he had done at the Park racecourse passed by the architect.

The Chairman said that he would see ihat tho matter was attended to.