GOOD PROFIT

Hauraki Plains Gazette, Volume 60, Issue 4320, 21 August 1950, Page 7

GOOD PROFIT

OHINEMURI JOCKEY CLUB £14,505 PAID IN STAKES SEASON’S RACING REVIEWED On Saturday, August 26, next, the annual general meeting of the Ohinemuri Jockey Club will be held at Paeroa when the president of the club, Mr Hugh Dent of Ngatea will present the following report covering the operations of the season just ended. In submitting the annua statement of accounts for the year ended 30th June, 1'9'50, your Committee takes pleasure in congratulating members upon the success which has again attended the season’s operations. The amount of £14,505 was paic away in stakes for the four days racing and the totalisator turnover of £341,577 is £75,866 in excess of the previous record. This will, of course, mean that increased stakes for current seasons will require to be provided. The profit from the season’s operations is £2132/6/1, after provision has been made for the following items of expenditure:— Improvements £742/17/9 Donations £29/I'B/Taxes Paid and Reserves £3906/12/2 Depreciation £1246/18 /- ‘ The taxes (income and social security) on this year’s profit as per balance sheet, plus other assessable items, will be approximately £3500. The finances of the club are in a buoyant condition, but we must not lose sight of the fact that a great deal of expenditure in the way of deferred maintenance and capital improvements is still necessary. The Doubles Totalisator was in operation at our meting held on ,17th December 1949 for the first time'in New Zealand since the 1907-o'B season and created considerable interest, so much so that this meeting was the best yet held by the Club, .with the record turnover of £102,258/10/-. A building had to be provided for the Doubles Tote and an auxiliary tote was built to ease the pressure on our existing totalisator facilities. This was considered essential by your Committee for the convenience of our patrons. Towards the end of the Club’s season the railing of the new training and steeplechase track was carried out and this track was used for the first time at the extra meeting held on 29th July. The course property is being well maintained in condition and the new tracks will now provide excellent training facilities. The membership of the Club was somewhat affected during the year by deaths and resignations, but the vacancies have been filled and there is still a waiting list of 25 candidates. CONDOLENCES: Your Committee record with regret the deaths of the following members of the Club:: Messrs G. P. Lamb, P. Brady, K. W. Neeve, N. U. Watson and R. P. Hunter. < It is desired to make particular reference to the late Mr G. P. Lamb. He was an old member, a Committeeman since 1941, and held the office of Vice-President since 1945, as well as being Hon. Treasurer. At no time did he spare himself in his service to the Club. ELECTION OF OFFICERS: For the Office of President Mr H. Dent is the only nominee and at the annual meeting will be duly declared elected. For the Office of Vice-President there are two nominations,: Messrs T. Gregson and V. Young, thereby necessitating an election. For the four vacancies on the Committee created by the retirement of Messrs T. Considine, J. K. Dean, J. H. Evans and T. Gregson, the following have been nominated: Messrs T. Considine, J. K. Dean, J. H. Evans, T. Gregson and L. J. Shaw, and an election will therefore be necessary. Voting papers and envelopes (which must be duly signed under flap) are enclosed herewith. I desire to record my sincere appreciation of the loyal support and co-operation given me by members of your Committee and to thank the assistant stewards for their assistance on race days. The time given to the Club so willingly by members of the Course and Works Committee has had an important bearing on the condition of our property. The Farm Account reflects the capable work of the Farm Manager, and our thanks are due to him for the interest he has shown. The keen interest displayed by the Secretary, Mr J. J. Poland, Caretaker, Assistant Caretaker and Staff of the Club merits special mention.