OPTIMISTIC SPIRIT

Poverty Bay Herald, Volume LXIII, Issue 19130, 26 September 1936, Page 7

OPTIMISTIC SPIRIT

RACING IN POVERTY BAY 500 MEMBERS WANTED TURF CLUB MEETING Optimism regarding the future of racing in .this district was the keynote o the annual mooting ol 'l"' |, " v < ilt i 1--Turf Club yesterday *}}«}\ M >»> , ballot papers l*iug distributed foi election of the committee Mod keen interest attaching to the selection ol lion whom the executive work ol the Unli will faU fur the new season. Three seat:, on the committee wen snbniited to the poll ol' members presen and represented b> proxy, then b»m„ eight nominations for the three, vaca a u. Messrs A. 11. Turn bull and D. J. '"'">■ two of the retiring committeemen were re-elected, and Mr. H. U. 1 Jod? «• •; chosen for the third vacancy taking seat on the committee rendered vacant l>j the death of Mr. G.B. Oman Mr J A. McLeod was re-elected hon. treasurer, and Mr. R. B- Dobson reappointed auditor, both being unopposed The Wisdom of seen.nig the persona interests racing of as many members ol ,he public as possible was voiced by nunc hn , one speaker. Mr. A. G. lunib, commenting that it had not been difiicu to show people how well worth while ! was to keep the sport going when one got into personal touch with them. Ah. ; Turnbull considered that it would not be 1 difficult to achieve a membership of. WO. I The chairman, Mr. P. Tolerton: Say 500 as the immediate objective, with 10U) : as tKe ultimate goal. | Prior to the close of the meeting) Mi. 'T! W Coop referred to the de-M of the ] club to the owners who, throughout the 'depression, had raced for small stakes ' and bv their own sacrifices had managed to keep the sport alive. A new era seemed to be opening out for racing in the district, he said, and the credit must C o largely' to those who had raced through the slump years. The sentiment !was endorsed by the applause of the ' meeting.

BIG IMPROVEMENTS

CLUE'S REVENUE FIGURES Reviewing the financial position of the Poverty Bay Turf Club at the meeting yesterday, Mr F. Tolerton, the president, instanced the remarkable changes which had taken place during the past year. In respect of one meeting ftl'ono, he stated, the club had improved by £507, this being the last summer meeting. • Comparing the profit and loss figures for 1935-36, with those of 1934-35, Mr. Tolerton stated that rent receipts had fallen slightly, at £147, while subscriptions were £3;>4 'in the last year, against £:J7S lor the previous term. Training lees, newlyacquired by the dab, had brought m £75- taxation refund hud yielded £16... : ,s against £27 r> for the previous _year. The spring meeting of E> ;! '■•'■' lu ' ( ; shown :. loss of £142. whereas that ol 19::,--:;i! had shown a pro 111 ol _ fcU>; the summer meeting of 1034-.!o had cost the club £367, whereas in I In? latest year the meeting had shown a profit of £l4O. Again, in respect ol winter meetings, a profit of £O4 in 1934-35 had been increased to £-11, in 1935-36. The allowance of £2OO lor depreciation and of £6l for bad Jebts, had helped to reduce the balance lor the past year, no such provision having been made in tie previous year. The contrast between the two years was shown further in the figures of gross losses and profits,, the season 1934-35 having shown a loss ot iA6I. and the following season a gross profit- ol £346. ' ~ . . ~ In addition, the president quoted tlie figures relating to taxation and turnover, the Government taxation being! £1679 toi 1934-35, and £1960 for 1935-36. 1 otahsator turnover was £20,369 in the first ot the two years, and £22,300 the following 'year, while the stakes offered had ' totalled £2590 in 1934-35, and £2546 m * 1935-6.