Totalisator Dividends.
CIV the Editor.),
Sib, —I was much intere_rtod ia your sub-leader of,, Monday last with reference to Mr.- Vincent's resolution at the annual meeting of the AshhurstPohangina Eacing Club—"That the stewards at future race meetings pay out sixpences of dividends-to investors, and donate fractional parts of sixpences of dividends to the District Hospital and Charitable Aid Board.'" When moving the latter part of'the resolution Mr Vincent, could not have been conversant with: the rules of racing. Rule 7, Part IL. states. "A programme when submitted shall be accompanied by a properly auditedibalance-shect showing the receipts and. expenditure of the Club for the past year;, and in no case shall any programme be passed unless it clearly appears- from, the balancesheet that no moneys received by the Club have been expended except in stakes, making impuovements to the course and: stands,, or-payment for interest and sinking, fumd on purchase monej* or generally in the interest of racing.'"' It seems a great pity that the rules will, not allow this veryi_!Wnmendable reform to come- into operation.—l am, etc.,
A-Achesox-Gkay Waiwiri, Ashk urst, August 24th,. 1905:.
Permanent link to this item
https://paperspast.natlib.govt.nz/newspapers/MS19050824.2.34.2
Bibliographic details
Manawatu Standard, Volume XLI, Issue 8072, 24 August 1905, Page 5
Word Count
185Totalisator Dividends. Manawatu Standard, Volume XLI, Issue 8072, 24 August 1905, Page 5
Using This Item
Stuff Ltd is the copyright owner for the Manawatu Standard. You can reproduce in-copyright material from this newspaper for non-commercial use under a Creative Commons BY-NC-SA 3.0 New Zealand licence. This newspaper is not available for commercial use without the consent of Stuff Ltd. For advice on reproduction of out-of-copyright material from this newspaper, please refer to the Copyright guide.
Log in