HAWERA TROTTING CLUB

Taranaki Daily News, 29 August 1930, Page 6

HAWERA TROTTING CLUB

LOSS ON YEAR’S WORKING.' DEPRESSION AFFECTS THE SPORT Regret that the year’s operations of the Hawera Trotting Club had resulted in a Joss was expressed by the president, Mr. B. McCarthy, who presided over an attendance of 19 at the annual meeting on Wednesday night. The trotting fixture held last Easter was the 25th anniversary meeting of the club, and in recognition of the occasion Mr. J. R. Corrigan donated a handsome gold cup to the winner of the Hawera Trotting Cup race, stated the report. The. committee extended the thanks of the club to Mr. Corrigan for his generous action. The meeting had again been well supported by owners and, from the point of view of the sport, had been very successful. It was regretted, however, that the season’s operations had resulted in a net loss of £ll5 3s Id, that position being almot entirely due to a decrease in gate receipts and in totalisator investments at the annual trotting meeting. Many other clubs had experienced a decline in revenue, and during a period of financial depression that was perhaps only to be expected. • In moving the adoption of the report and balance-sheet- the chairman said he regretted that the year’s operations, had resulted in a loss, which was due mainly to depreciation' in revenue from the totalisator, nominations and acceptances, gate receipts and race books.Similar experiences were being met by other clubs throughout the Dominion and it appeared to be a result of the general financial depression. Expenses, however, had been kept down to a minimum, showing a considerable decrease on those of other years. The accumulated fund stood at £4119 as against £4234 last year, the difference representing the loss on the year’s working. In view of the position it might be necessary for the club to practice further economies, and the incoming committee might consider making further reductions in expenditure. “The outlook for the sport is not promising,” continued Air. McCarthy, “but in my opinion we should maintain our etakes at their present high level to keep up the prestige of the club. The additional taxation imposed by the Government might influence, the incoming committee, but I think we can be guided by the' experiences of other clubs. It is said that the taxation is an impost on the public and not on the clubs, but it must adversely affect totalisator investments and will therefore result in decreased revenue from that source.”

In order to improve the financial position, he said, it might be neceeeary to make reductions in complimentary tickets and privileges. It was his opinion that the Government might have endeavoured to reduce national expenditure rather than impose additional taxation on an already overburdened public. The report and balance-sheet were adopted without discussion. As the nominations for the positions of tho office-bearers did not exceed the vacancies no election was necessary and the following were declared elected: — President, Mr. B. McCarthy; vice-’presi-dent, Mr. E. A. Washer; honorary treasurer, Mr. W. B. Fearon; committee, Messrs C. Arden, M. Barraclough, W. J. Bradford, J. S. Barrow, J. N. Crocker, J. M. Deegan, B. C. Gibson, A. J. Hopcroft, H. L. Kasper, J. Malone, J. S. T. Short; stewards, Messrs C. Arden, J. §■ Barrow, W. J. Bradford, J. N. Crocker, J. M. Deegan, B. C. Gibson, A. J. Hopcroft, A. C. Johnstone, H. L. Kasper, J. Malone and J. S. T. Short. Mr. H. A. Lennon was reappointed auditor. A vote of thanks was accorded the Egmont Racing Club for assistance rendered during the year.