£25,000 PROFIT

Sun (Auckland), Volume III, Issue 746, 20 August 1929, Page 12

£25,000 PROFIT

AUSTRALIAN JOCKEY CLUB’S BIG YEAR Australian Jockey Club's balancesheet for 1925-9 shows a profit of £24,693 6s sd, against £8,577 39s 3d the previous year. After writing-off £8,500 for depreciation of Warwick Farm stands and buildings in 1928, £77 19s 3d was transferred to the surplus account. This year, after allowing £20,056 2s Id for depreciation at Warwick Farm, and £220 10s 2d at Randwick, the surplus is £4,416 las. The total revenue was £307,500 las 7d, against £304,083 4s Id in 1927-8, and while there was a decrease of about £873 in admission money, there was an increase of £2,838 in revenue from totalisator, registration, catering rights, and racebooks. There was a slight drop in stakes, the added money at Randwick being £ 123,600 and at Warwick Farm £ 15,900, against £124,950 and £20,000 respectively the previous year. Government’s Good Win Totalisator investments at Randwick were £968.360 ss. and at Warwick Farm £81,230 15s, being a total of £29,146 15s less than a year earlier. The State benefited £94.463 5s ll)d from the totalisator. and other taxes and fees paid by the club to the State and Federal Government increased the total to £106.540 4s. Racegoers certainly pay heavily for their pleasure. The maintenance of Canonburv Home cost £4.731 13s sd, and charitable donations ran into £3,011, of which £1.634 went to aged trainers and jockeys. Country racing associations have a lot for which to thank the ruling bodv, their subsidies amounting to £6.675. In the report it is stated that the electrification of the railways to Warwick Farm is expected to be completed prior to the November 24 meeting. That should tend to larger attendances. as many racegoers begrudge the time it takes to get to "The Farm.”