OBJECTIVE ATTAINED

Manawatu Standard, Volume LVI, Issue 174, 24 June 1936, Page 8

OBJECTIVE ATTAINED

A. AND P. ASSOCIATION. REDUCTION IN LIABILITIES. Because of the very strong public support given the National Dairy Show on th© concluding day, vesterday, tho Manawatu and West Coast A. and P. Association is now in a sufficiently buoyant financial position to make a marked reduction in its liabilities, saving, at the same time, over £lO5 annually in interest payments. Due to the heavy burden of overhead indebtedness, the association, rather than sacrifice the present Showgrounds, has set out in a determined effort this year to relieve the pressure on its finances. It decided to extend the Winter Show to six days and to apply all the gate takings on the King’s Birthday to the debt reduction account. The confidence expressed that the public would rally to the support of the association on this occasion has been vindicated by the fact that the gate revenue yesterday was £Ol1 —a record. With the addition of this amount to £720 already hold in the debt reduction account, bringing the actual cash in hand to £lO3l, and with the assista.nce of over £IOOO already promised in donations, the association can now realise its preliminary objective of liquidating a mortgage amounting to £2OOO. this sum mainly being owing on the Fe a the rston .Street property, though small parts of the main Showgrounds are included in the security. There will still remain the ma.m mortgage and overdraft commitments to ho repaid, but the association, through its enterprise, has at last secured a foothold in the clearance of this indebtedness. Recently it repaid out of revenue a private loan of £3OO a.nd, even if this amount is refunded to the revenue account, there will still he available a balance for application towards the reduction of the overdraft. The net result is that the association will make a saving of over £lO5 a. year in interest payments. With splendid weather prevailing. 21,636 patrons, of whom 14,576 paid cash admissions, attended the final day of the Winter Show yesterday, both the halls and outside areas being crowded. In the early afternoon many could not get seats on the stands, while the oval was lined many deep. The cash takings of £9ll 18s 6d were augmented by car parking fees which brought the total to £922 a.nd, but for counter-attractions, the figures would probably have reached over £IOOO. During the six days of tho Show 52,156 people attended, 19.836 of this number being admitted bv ticket privileges. Tho aggregate gate takings of £2022 constituted a record, the previous best total being £l9lß 2s 4d for the five-day Show in 1928. After deducting the £9ll for the debt reduction account, the Winter Show proceeds for ordinary purposes stand at £llll. a.nd it is considered that on this basis there will be quite a good working profit. There has been increased space revenue, ground fees from sideshows being 50 per cent, greater than last year’s. Meanwhile, the memliership campaign is being actively pursued, and this year 470 new members have been elected, bringing the total to about 2000.