MARCH OF PROGRESS

Sun (Auckland), Volume III, Issue 749, 23 August 1929, Page 13

MARCH OF PROGRESS

TE AROHA’S SPLENDID YEAR IMPROVING THE COURSE The annual report and balance sheet to be presented at the annual meeting of members ol the Te Aroha Jockey Club on August 30 shows the club to be in a very satisfactory position. The report reads as follows:—“The profit and loss account shows a credit balance of £4BB 14s 6d as against a credit balance of £2 11b 8d for the previous 12 months. The gross profit for the race meeting was £ 1.934 Is 6d, which shows a satisfactory increase of £337 T9s 2d over the preceding year. Depreciation amounting to £603 Ss has been allowed for and the accounts generally are in a healthy condition. For the first time for some years the club’s account at the bank is in credit. The turnover for last season wf.s £58,956, which shows an increase of. £4,489 over the 1928 race meeting. "During the year £859 3s has been expended on new works and other permanent improvements, toward which the Trotting Club contributed £361 Is 4d, the latter amount representing an accumulation of rebates allowed by the Government for improvements. Your committee appreciates the cooperation of the* Trotting Club in this connection. £241 8s 6d of the foregoing expenditure is represented by progress payments on account of a contract amounting to £1,995 12s 6d for construction of the new course and training tracks. The new course will not be available for use during the present season, but your committee hopes to get the work finalised immediately after the 1930 race meeting. “The club originally invested £SOO in the Country Clubs Breeders’ Association venture, which amount was annually written down until it stood at £IOO last year. The association is being wound up and members will be pleased to know that to date a dividend representing 17s 3d in the pound has been returned to the club, and it is hoped the full amount of 20s i i the pound will be paid. "A profit of £202 7s lOd is shown for the year, making a total profit of £4OS 11s 2d for the two years during which the club ha.s had control of the grazing. The thanks of members are due to th© course committee for the interest it has taken in and the time it has devoted to this matter. “The retiring directors, viz.: President. Mr. R. L. Somers: vice-presidents, Messrs. P. Paine. R. Burke and J. B. Johnson; bon. treasurer. Mr. H. E. D. Willcox; and four members of the committee. Messrs. F. I. Hunt, G. McGlashan. F. T. Rowe and J. P. Somers, hate been again nominated for the various offices, and as the nominations do not exceed the vacancies they will be declared • duly elected at the forthcoming annual meeting.’’