N.Z. CRICKET LTD.

Sun (Auckland), Volume II, Issue 444, 28 August 1928, Page 11

N.Z. CRICKET LTD.

PAYS 5/6 IN £

ENGLISH TOUR RESULT

LOSS OF £4,67 4 When the invitation of the M.C.C. to send the first team of New Zealand cricketers to tour Britain in 1927 was accepted by the New Zealand Cricket Council, the problem of financing the tour was solved by the promotion of a company known as New Zealand Cricket, Ltd. The authorised capital of the com - pany was 12.000 shares of £l. and 11.407 were applied for and allotted. The sum of 10s a share was called up. but there were several applicants for shares who paid up in full. The capital paid in over and above the 10s culled up will now be returned in full, and for the 10s paid up on the 11.407 shares issued the sum of 2s 9d will now be refunded for each 10s paid up. WEATHER AFFECTS TOUR It was never considered that any profits which might have accrued would have been dispersed in the form of dividends, but there was every hop' of the financial backers receiving the bulk of their money back. But the weather bureau was unable to provide much seasonable weather for the tour, and a loss of £4.674 resulted. Although the New Zealanders gave some dashing displays of bright cricket, and held tlieir own well with th«major counties they met. the gates were disastrously affected by the weather, and only £4,244 was received from this source, but a grant of £l.ooo from the New Zealand Government has added about another sixpence a share to the cash supporters of the tour. With such a good impression created by the team’s performances, and with anything like a normal summer, the nr'xt tour should be at least self-supporting, if not productive of a profit. ITEMS OF EXPENDITURE The items of expenditure disclosed by the balance sheet are as follow: Train fares, meals, and hotel expenses, £3.298; steamer fares, £2.535: allowances, wages, salaries, and auditing, £2,166; tips. £47S: sundry expenses. £321; assembling team. £276; printing, stationery. cablegrams. and stamps. £265: taxis, vans, carriage of team and baggage. £206; entertainment account, £120: laundry account. £101; preliminary expenses, £B9; insurance, £73; medical and dental expenses, .4143. Voluntary liquidation on the payment of 2s 9d a share of 10# paid up is how recommended by the directors, who apologise for delay in the issue of th balance sheet owing to the extended stay in Britain of the manager, M»\ Douglas Hay, and the delay in Arrival of several returns from England, without which the auditors were unable to complete their task.