FINANCIAL POSITION

Manawatu Standard, Volume LVI, Issue 119, 21 April 1936, Page 7

FINANCIAL POSITION

A. AND P. ASSOCIATION. REDUCTION OF LIABILITIES. PROPOSALS BEFORE COMMITTEE Suggestions for improving the financial position of the Manawatu and AVest Coast A. and P. Association, now that the subdivision scheme is in abeyance for eight months, were discussed at a meeting of the general committee of the association to-day, when the urgency of readjusting mortgages to secure a lower rate of interest was emphasised and other schemes were advanced for relieving the liabilities as soon as possible, principally through a membership drive. “Eighty-four new members have so far been enrolled this year, bringing the total membership to over 18CK), including 220 life members and 40 junior members. The estimated receipts from this source for the year are £1600,” reported the secretaryorganiser (Mr H. E. Ivissling). “Mr E. A. Shand has outlined a proposed campaign for new members in the city and his scheme appears to me to be practicable and worthy of serious and urgent attention. I have ascertained that the following city members are willing to act as a sub-com-mittee to carry out the campaign in conjunction with several members of the committee: : —Messrs J. A. Nash, A. E. Hansford, W. B. Cameron, W. B. Tennent, It. L. C. Aitcliison, H. B. Free, W- H. Brown and D. Dickie. These men have suggested that Messrs Jos. * Batchelar, T. 11. Hodder, L. B. Wall, D. Collis, E. A. Shand and L. H. Collinson be appointed from the committee to assist them in their campaign.” PROPOSED ALTERNATIVES. Present by invitation of the finance committee, Mr J. A. Nash .stated that possibly he was responsible’ for leading the opposition against the subdivision and reconstruction schemes at the annual Meeting. During discussions at the preceding special meetings feelings had run high, but Mr Kissling’s action in having the financial position thoroughly ventilated deserved the. greatest commendation. Administrative expenditure had been pared to the bone, and proposals were being advanced to place the association on a very sound financial basis. Though not successful with his scheme, Mr M. A. Eliott had done a great deal of good in having important issues discussed, Mr Nash added. The suggestion was advanced by the speaker that a special ways and means committee be set up to report to the general committee within two months on a number of proposals. Firstly there was one strongly supported by Mr H. Voss, that efforts be made to liquidate one mortgage of £2OOO by by special donations. Secondly, there was the proposed membership drive. Thirdly, careful survey and report should be made to estimate what sum ♦vould be available from subdividing and selling the Featherston Street property. Fourthly, membership could be doubled without adopting f;iie dangerous suggestion of raising the annual subscription. Fifthly, an approach could be made to the Government for a subsidy to be granted to A. and P. shows. Sixthly, tin extensive scheme of attractions to popularise the Shows could be adopted. Seventh, there was the possibility of rearranging the mortgages. THE MEMBERSHIP FEE. It appeared to be a psychological time to suggest that the membership subscription of the association be increased, said the treasurer (Mr T. It. Hodder). There had been a mistaken impression that it was - wealthy institution. He advocated sending to members an open letter pointing out the present position and asking them to agree to pay an extra 5s per annum for a few years to support tiie association and save the .Showgrounds. It would not be a demand, and the decision to make the extra contribution should rest with them. A plebiscite would be taken of members, to obtain an expression of opinion from them, in order that the general attitude towards the proposal might he ascertained. Mr Hodder* said he felt it futile to approach the Labour Government for a subsidy. Mr Nash disagreed with this. Feinting out that there were 65 members on the general committee, Mr Shand suggested that each could ob-, tain at least 15 new members. 1 -ii would increase the income from this source by £ll3O yearly, and bring cue total annual revenue from subscriptions to £2500. There were about 600 members in Palmerston North, and this was too small a proportion of the population, there being room for a substantial increase through a concerted effort. The president (Mr Jos. Batclielar) congratulated Mr Shand on his enterprise in securing members, and endorsed the scheme. Mr Jas. Knight (Feildiug) said that goud work was being done in increasing the membership, but the first activity to be undertaken was the rearrangement of the association’s mortgages. hITENTION TO MORTGAGES.

Foremost among*the work to be done by the association was the stabilisation of its finances, stated Mr A. V. B. Monro (Ohingaiti), who added that the mortgages first required attention. He was opposed to asking members for an increased contribution, and to approacJiiug Governments toe subsidies. Farmers, through the publicity the association’s affairs had received through the Press, had grasped the position, and wanted to know what action was being taken. Outlining his scheme for liquidating tlio smallest mortgage of a-2000, Mr H. Voss stated that, with Mr Jas. Knight, lie had made inquiries concerning the prospects of direet donations l>v members of sums varying from £lO to £25, and already £2OOU had been promised in that direction. Strong advocacy ot a trust fund to be established from life membership, subscriptions was voiced by Mr H. J. Lancaster. . . , Readjustment of the association s finances by raising a debenture to liquidate the mortgages and bank overdraft was urged by Mr S. R. Thomson. After that the prospects of realising on the I'eatheustou .Street property could bo examined. ' '1 here was, said Mr Kissliug. £o-U at present in the mortgage reduction account, it was hoped to secure L4UU to £SOO from a special King s Birthday effort, and, with donations as suggested by Mi' Voss, to pay off the mortgage ot £2OOO. . With the object of increasing the membership by 1000, Mr Sliand moved that each mem her of the gen-eral com-mittc-e be asked to secure fifteen new members by the end of June next, a record of each committeeman s eftort to be tabled at the July meeting; also that the sub-committee mentioned in the secretary’s report be authorised to

launch an immediate membership campaign in the city. . Seconding the motion. Mr Hodder said he wanted to see the association placed on a sound financial basis. Mr A. Burgess (Rongotea) said prospective members wanted to know whether the Showgrounds -were to be sold, and some members had actually threatened to withdraw if this took P “You can take it that the Showgrounds are not going to be shifted," said Mr H. J. Lancaster, the chairman and other committeemen concurring that this was the general feel'll]. Shand’s motion was carried. Mr I> Buchanan moved that tenders he called for the sale of the Featherston Street property and it was decided that this should go forward as a recommendation to the general committee. It was decided to leave in abeyance Mr Hodder’s suggestion regarding circularising members until the incoming finance committee brought down its report on the association’s finances.