RSA CLUB

Otago Daily Times, Issue 27385, 10 May 1950, Page 10

RSA CLUB

Not An “Asset” MEMBERS’ DECISION » The question whether the Dunedin RSA Club should be shown as an asset in the annual balance sheet was decided at the annual meeting of the RSA Club last night. The matter was raised by Mr J. L. Mclndoe, and the question was decided in the negative by 57 votes to 42. Speaking to some extent in lighter vein, Mr Mclndoe moved an amendment to the motion of adoption of the balance sheet to the effect that the RSA Club should be shown as an asset on the books of the association. The chairman of the Finance Committee. Mr N. G. Stewart, said that the club was a gift to the RSA by the people of Dunedin. It was decided by the executors in the early days that as the building was a gift it should not be shown as an asset on the books of the association. The building was erected on leasehold ground. It had a value, and “no doubt the last living member of the RSA would be able to realise on this asset and pay a dividend,” Mr Stewart added, amid laughter. \ The president, Mr D. L. Wood, said that the executive had no feeling in the matter, but had not included the club in the balance sheet as an asset because it might give rise to misapprehensions about the financial position of the RSA. A vote was then taken on the amendment.