LOSS ON TROTTING

Hawera Star, Volume LI, 12 August 1931, Page 6

LOSS ON TROTTING

AUCKLAND DOWN £4870. REDUCTION IN STAKES? A loss of £4870 for the year ended July 31 last, after writing off £1096 for depreciation, is revealed in the report of the Auckland Trotting Club, to be submitted at the annual meeting next Wednesday. During the year tlie club distributed £2.9,350 in stakes, or £5135 in excess of the net revenue from the tatalisator. Commenting on this, the president, Mr J. Rowe, states that it will oe necessary for the incoming committee to consider a further reduction in stakes. A special meeting for unemployment relief on August. 30 and September 1 last year yielded £749 10s, including Government taxation. The money was handed to the Auckland City (Council and the Auckland Hospital and Charitable Aid Board. The profit and loss account shows an expenditure of £83,135, inclusive of stakes and depreciation. Totalisator, amusements, stake, dividend, and land and income taxes accounted for £34,IT6. Wages absorbed £2440 and salaries £1921. The gross return from the totalisator was £40,976, and nominations and acceptances returned £5469, subscriptions and 'entrance fees £2003, and gates and stand £8531.