DUNEDIN JOCKEY CLUB.

Otago Daily Times, Issue 10263, 22 January 1895, Page 3

DUNEDIN JOCKEY CLUB.

Th« annual meeting of Uio members of tha Duuediu Jockey Club was held at tho Terminus Hotel on tho Hfch insfc. Tho Hon. U. j MTiean (president.) occupied the chair, aud I Borno 4-0 members were present. ANNUAL RKPOKT. The committee regret that the result of tho year's operations i-i unsatisfactory, ami that a somewhat larjjur deficiency is shown limn at the same time last year. It will be seen that at the commencement of the year there was a. debit balance at the bank of £I2V las 7>l, and that although £1050 was transferred from il'snoait account in aid of revenue, the year terminated with a debit balance at the bank of £91!) 4s Cd, showing our position at the end of the year to be worse by £731 lbi'l(M.

The receipts for the yeiir from ordinnry sources amounted to £12,745 7s, as against £111,712 to 3d in the preceding year, showing a shrinkage in earnings of iiKiti lfli 3d. On the other liuud, the expenditure for fcue year lias beeu £13,470 ISs 10d as iisainst £14,032 lfis, showing a reduction us com'iarud with the previous your of £555 lh'.s 2d. In order to extinguish the overdraft in current account, your committee propose to withdraw a further sum from deposit account. Iv reviewing tliu receipts we lind ii shrinkage in all our sources of income, but the most noticeable items arc the decrease; from sale of booths (£205 15s) for the last three meeting*, durinj; which tho licenses were withdrawn, ami from entrance foes, acceptances, <Sc. (£3:2!) 8s lid).

It is satisfactory to note that there lias been an increase in the amount passed through the totalisator, the sum beinfj £07,570 as awunst ±'54,032 in the previous y<sar—sin increase of £3534. Of this, £4)81 was obtained at our Spring meeting. For the latter we are no doubt largely indebted to the operation of the new Gaming Hill, passed last session of Parliament, which has greatly assisted

" walking totalizator " grievance. Notwithstanding, however, that a larger amount wuf passed through the machine, our revenue from this source was leas by £100 2s than the previous year, owing to the fuet that we now pay tho Government tax out of our commission—collecting only 10 per cent, from tlie public instead of IjJ- per cent, as formerly. The amount of tax paid last year was £S(i'i l'2s 8.1, so that t!ie revenue of the club suffered to that extent.

The tlucrease iv our expenditure is mainly owing to :i reduction ia stakes, which we last year curtailed by no less n sum than £100. Considerable ecouomim have, however, be=n introduced in the mutter of salaries and expensed of meetings and further reduction in stakes, of which we shall get the benetit during the coming yenr. Included in the expenditure is no less than £532 18s lid for outlay which will not occur sigam for some time, .such as painting the buildings, erecting barbed-wire fences, improvements to stewards' stand, providing starting machines, and also loss by robbery; so that unless some unlowurd circumstances eventuate, which your committed do not anticipate, our expunditure next year should bo much le.-is than it lias been during the year just closed. Your committee feel justified in holding out a hope that with the improved tolalisitor receipts aud reduced expenditure a satisfactory result will be shown at next balance, especially if the meetings of the club are favoured with good weather. In this respect we were not fortunate last year.

Xne JPitESiDjorr, in moving the adoption of the report, said the report showed a deficiency of £731 on tho year's transactions. He regretted that there was not a surplus. The committee had done all they could to meet the emergency that had arisen, bat some things that were wholly unexptcted on the part o£ everyone had happened during the year. Ia order to meet tho falling revenue and to provide for contingencies in the year 1892-95, the eommitteß had reduced the stakes by £790, and in 1893-9$ they had reduced them by the still iurther anui oE £780, thinking that wonld be amply sufficient, for that did not include the reduction, consequent upon the reduction in rue days, which amounted to another £750 Vafcen off the stakes. Again, when they thought they were all right, they had reduced th« stakes £400, and had also dealt with the officers of the club, and by these othar cccmoßiies effected a reduction of eemething lika £550. Amongst the unexpected losses was the amount of £265 for the sale of booths. This was dua to tne licenses being withdrawn. Ho aid not suppose that any of thaoa expected that this would be done, and that the amusements of the people ba thus interfered with; but that simply the number of licensed houses would be reduced without refuting the customary accommodation in connection with the different sports. For his part he felt that this was not only unexpected but wrong. Then there had been a falling off ia nomination's and acceptances amounting to something lika £329. It was very diffioulfc to account for this, though the committee had considered it iv every way. As they were aware, this last year the club had paid the Government tax oat of tho club's iuuds, amounting altogether to £860 odd, which ii must he admitted was a very large sites of tho club's revenue, as they had nearly £1200 » year to pay as rent or interest. These items added together made considerable inroads into their revenue. There had also been considerable non-reenrring expenditure, in all about £532, this year. The baildings had badly wanted painting, and the erection of a barbed wire fence had become necessary. Then they had invested £90 in starting machines, which had given eafcisfaction, and wonld, he believed, continue to do so in a greater degree, while it would save the employment of an expensive starter. Then there was the unfortunate robbary by which they had lost £128. It was very unfortunate that this should have happened, bat after the closest; possible investigation he was able to say the committee were satisfied that no blame in connection with it could attach to the club's officers. —(Applause.) All reasonable care had besn tafeen by them. He wished to say th&t tie considered 16 would be well to revert to tlie old system, and that the financial year should end with the racing year. Otherwise it was very difficult to know exactly what they were doing in dealing with their estimates of revenue and expenditure. For instance, a large amount of the redactions this year did not come into play in this year's accounts, but would affect the accounts for the following year, when, he koped, the deficiency would be met. They would all be glad to see that the totalisator receipts considerably exceeded tho3e of tho previous year. Tbi3 no donbfe was a good deal owing to the Gaming Act passed, which prohibited "tote" batting. If the revenue from tho tutilisator kept up, he hoped to see the revenue meet tho expenditure for the present season. In conclusion, he expressed his willingness to answer auy questions.

Mr F. Sleenan had much pleasure in seconding tha adoption of tho report. It was not a very satisfactory ona, but under the circumstances it was the beat that could ba produced. As Uia chairman had explained, m&ny things had been against them. There were the matter of booths, the falling off in acceptances, and other things, respecting which the losses had been considerable. As treasurer it might be necessary he should make soma reference to the loss of the money. There was no question that ha had handed the money over to Mr James, who had plaoed it in the safe as usual. Some person must; have followed Mr James home, and when ha was in bed got possession of the keys and stolo the money. Tho crime was one that could scarcely have been guarded against—anyone of them might have been robbed in a similar manner, —and no one could be blamed for carele3snesß in connection with the robbery. As an old member of the club ho might state that he was again standing for reelection, and it might be necessary he should stata his view,: upon leading matters in connection with tho club. As a matter of fact he had always tried to keep the expenditure within the income. For ths lust two or three years he had been outvoted in these matters, but his idea was that th') money they had in hand should not be spans in racing, as they had bean expending it. They ought not to expend more money in racing than they could reasonably expect to get from it—the expenditure should bs kept within the limits of their income. The money they hand in hand was now reduced to about £5000, and it had formerly been Dearly £SOOO. Of course it was desirable to present a good programme as a matropolitin club and to have good states, but he thought it would be wiser to keep the money in hand, as the interest! would be considerable, and to work within their income. As the chairman had gone fully into matters connected with the club he would nob detain them longer, excepting just to state that with the view of rendering the robbery of the club impossible arrangements had been made in future for paying the money at once into tha bank.

The Chaibman said they had all bean anxious to keep the expenditure within the income, and drastic measures had been taken to effect that, but losses had occurred which neither Mr Meeuau nor anybody else could ever have expected the club would be called on to meet. The adoption of the report was carried unanimously. ELECTION OP OFFICERS. The Hon. George ffl'Lean was unanimously j re-elected president. Mr John Stephenson was in a similar manner re-elected vice-president, and Mr John Davie auditor. A ballot was taken for the election of six members of the committee, which resulted in the return of Messrs Meenan, Taggert, Fleming, Cook, Short, and Lintott, the voting being: F. Meonan 47, W. H. Taggart 45, J. Fleming 40, J. A. Cook 39, J. G. Short 34, G. S. Lintott 33, and R. Wilson 30. The six first-named gentlemen wore declared duly elected, and the proctedinga terminated.