RIVERTON RACING CLUB.

Otago Daily Times, Issue 20501, 31 August 1928, Page 12

RIVERTON RACING CLUB.

STRONG FINANCIAL POSITION. That the Riverton Racing Club is in a wonderfully strong financial position was shown at the annual meeting on Wednesday night (says the Southland Times), when the balance sheet disclosed the liabilities of the club as "nil,” and the assets at £14.451 "s Bd. The credit balance on their Easter meeting was £2718 3s 3d, and on the whole year s working £894 7s Bd. In moving the adoption of the report, the president (Dr C. H. Gordon) said:— “ It is unnecessary for me to comment on the balance sheet. It is wonderful to be able to say that the liabilities are nil, and that we have assets worth £14,000, after £2OOO have been marked off in two years for depreciation. The balance sheet marks the culmination of the policy begun about 1922. The first and most important has been accomplished and we stand free of debt. This is especially satisfactory because the last few years have been very hard on racing clubs. When the policy was laid down, some said it was too ambitious, but our present position has proved that the judgment of tne committee in the past has Been sound.” The secretary announced the newlyelected office-bearers as follows: —President, Dr C. H. Gordon; vice-presidents, Messrs F. Trail and A. E. Willett: committee—Messrs H. J. Riddle, C. J. Butler, and J. W. Ronald.