NORTH OTAGO JOCKEY CLUB.

Oamaru Mail, Volume XXXVIII, Issue 10499, 6 July 1910, Page 4

NORTH OTAGO JOCKEY CLUB.

The following is the report to be pre- ' sented at the annual meeting of the ; North Otago Jockey Club 011 Tuesday next, 12tli July: — Your Committee, in presenting their annual report and balance-sheet, have great pleasure in again being able to show that the season just finished lias 1 been a successful one. The financial year closed with a credit balance of £'Bs 17s 7d, a decrease of £l6l 13s 2d from the balance of the 30th June, 15)09, but this is riiorc. than accounted for by the Government new taxation .scheme, which amounted to £220 16s Od for the May meeting, being an increase of £79 6s 4d as compared with the amount paid at the corresponding meeting of last season. _ During the year the sum of £72 6s od was expended in top-dressing the course and improving the plough gallop, and in addition to which many minor improvements have been made, which when taken into account, show that a small profit lias been made during the year. The fixed deposit of £3OO at the National Bank o? New Zealand, which has not been encroached upon, makes, with accumulated interest and the balance at credit account and cash in hand, a total amount of £405 17s 7d to the credit of the Club. In addition to this, the Club's assets, consisting of plant, tools, etc., are valued at £304 6s 8d (after allowing 10 per cent, for depreciatioji), so that the total assets amount to £7lO 3s 7d. Your Committee decided to accept the kind offer of the President to donate stone and roofing iron for the erection of luncheon rooms, and also a loan of £3OO for the completion of the same at a nominal interest, and your Committee decided to accept the loan in preference to using the amount at fixed deposit. This amount is the only liability the Club lias. Owing to the fact that all permanent improvements are vested in the trustees, the cost of these buildings cannot be included in the assets of the Club, although the cost has to be shown in the amount of liabilities or paid for out of current revenue, and this accounts for the amount of assets over liabilities being less than last year. During the year two race meetings were held, and stakes amounting to 303550vs were given, being an increase over the previous year of SOsovs. The policy of your Committee in increasing the stakes drew aii extra- number of nominations, but the nation's recent mourning caused a diminution in the attendance at k tlie winter meeting. The spring meeting again resulted in a loss, the deficit amounting to about C 10!). The amount paid away in stakes during the season (303550v5) constitutes a further record, and is considerably more than that given by any other club in the South Island with the exception of the metropolitan clubs. lii 1904, 137550vs were given away; in 1905, 2005sovs; in 1906, 2210sovs; in 1907, 265050v5; and in 1908, 295550v5; so that in five years the stakes have increased by 1660sovs, a splendid record, and one that future committees should emulate. The Club again donated a Cup to ' the winner of the Stepniak Stakes and .the Oamaru Cup. The former was secured by Messrs Stead Bros.'s colt Sunburnt, and the latter by Mr H. A. Knight's Tikitere. The wins were very popular, and there is no doubt that the ' addition of a trophy adds to the popularity of these events. During tlie season Mr E. A. Jones, owing to his being absent from Oamaru a considerable- part of his time, resigned liis position as Hon. Treasurer, and Mr E. P. Lee was reinstated. The thanks of the Club are again due to li[r J. W. Freeman for his services as lion, cleric of the course, and also to Mr R. M. French, a member of the Ground Committee, who lias spent ai considerable portion of his time in overseeing and assisting in the improvements which have been effected. The Special Committee set up at last annual meeting to revise the rules have the same under attention, and will report later on. The following members of Committee retire, but are eligible for re-election: —; Messrs W. Gardiner, juii., J. Glenn, E. A. Jones, E. P. Lee, G. Livingstone, and J. G. Nicolls.