STRATFORD RACING CLUB

Taranaki Daily News, 11 August 1932, Page 6

STRATFORD RACING CLUB

SUCCESSFUL YEAR REVIEWED ANNUAL MEETING OF MEMBERS. £2453 DISTRIBUTED IN STAKES. The Stratford Racing Club has experienced a successful year as the race meeting held on January 1 and 2 produced good fields in all events, while the standard of racing was of a high order. The public attended in large numbers and the sum of £29,600 passed through the totalisator for the meeting. The total amount given in stakes was £2453 19s 6d, while £2869 18s 8d was paid to the Government in taxation. Those facts were reviewed by a large number of members at the annual meeting of the club last night, the president (Mr. D. J. Malone) being in the chair. The report stated that the profit and loss account disclosed a profit of £lOO for the year, after writing off £440 4s lOd for depreciation. In view of the difficult times, that could be considered satisfactory. The support accorded the club by owners, trainer and the general public was most gratifying, and could be taken as an indication of approval of the policy "adopted. The committee had now in hand the work of preparing a members’ car parking area, situated on the eastern side of the saddling paddock. The work would be completed before the next race meeting, and should be greatly appreciated by members. Buildings, plant, tracks and equipment had been maintained in good order and reflected credit ■ n the caretaker, Mr. R. Loyd. The good work achieved by the farm committee was to be. commended, the stock account .showing a profit of £154 17s Ud for the year. Thanks were due to the stewards and honorary officials, who had done excellent work during the race meeting. The secretary, Mr. W. Power, and members of Lis staff had carried out their duties most efficiently. “I am pleased to be able to record a successful year, as racing in common with all other businesses is feeling the effect of the economic conditions,” said Mr. Malone in moving the adoption of the report and balance-sheet. “The committee realised last year,” he continued, “that they had to face the position and a, budget was framed' by the treasurer instituting all-round economies. Thanks to the excellent support accorded the club by the public, after providing for all contingencies we are able to show an actual profit of £lOO on the year’s working. The margin is certainly small but we are able to keep within our estimate. This, however, was made possible only by the remission of taxation allowed by the Government. ' TAX CONCESSION. In discussing the question of taxation at the last annual meeting, Mr. Malone said the club recofhmended that the conference approach the Government with a view to granting a further remission of per cent, on totalisator ipvestments under £25,000. Cabinet had granted that rebate and had also decided to allow racing clubs a further one per cent, on totalisator turnover for the present year. He thought it could be admitted that the Government had met the position fairly and recognised that racing clubs were having a difficult time. Last year they had been able to grant the public a concession by way of reduced gate charges, and horse owners had been provided with free stabling accommodation; Both innovations had appeared to be greatly, appreciated, but the club had to maintain a certain minimum income and there was a limit to concessions. The maintenance of tracks and appointments was costly and rates and interest were also heavy fixed charges which had to be met. Therefore, while the club endeavoured to meet the public fairly it had to be borne in mind that the duty of the executive was to see that the interests of those responsible for the club’s finance were safeguarded. Mr. Malone thought racing generally would show a steady improvement during the coming year. The difficulty had been to accustom themselves to the altered conditions. Incomes had been greatly reduced and they could not expect the large totalisator turnover of a few years ago. However, it was not unreasonable to assume that with a gradual return to prosperity the attendance at race meetings would increase. It might be found that investments would be reduced as the public probably now had a different idea of the value of money. That would not necessarily prevent them from attending race meetings and enjoying themselves provided admission charges were reasonable and provision was made for small investments. It had to bo realised that the public was hard hit, but was still prepared to enjoy the sport provided it was not too costly. He was confident that the 5s totalisator, the double machine and place betting would be welcome innovations. The business of the club was to 1 make racing as bright and attractive as possible. . <• ~ ; - MAINTAINING STAKES.

Mr. Malone said he was a strong supporter of maintaining the value of stakes; last year had provided a good programme and had received. / excellent support. The executive was in the .fortunate position of being able to continue that policy. The executive was still hopeful of receiving an additional permit and had applied for two days in the autumn. ''. • < ■ . .

While- on the question of permits he said he could not agree with the policy adopted by the conference regarding permits remaining in the same districts in the event of dubs not using them. The fact that clubs were unable to race appeared to indicate a lack of public support in those particular areas, and was certainly a strong argument’for the amalgamation of certain interests, but it did not necessarily follow that the full number of days of racing should be retained; otherwise it was doubtful whether the amalgamated interest would benefit, as apparently less racing was required in that particular locality. What was required was the amalgamation of certain clubs and a re-distribu-tion of permits to districts where public support was forthcoming. That would teud to give a fillip to racing and would certainly be in the interests of horse owners, as increased stakes could be provided and the public would be better served in the matter of appointments. “.The membership has increased during the year and more are joining this year,” Mr. Malone added. “The policy of the club is to welcome new members. We are expending our profit in providing a members’ car parking area in a very convenient position where they can enjoy the privileges provided for them.” The Stratford Main Trunk railway was nearing completion and it was to be hoped that early in 1933 direct communication would be established with Auckland and Waikato, That should be a great help to the meetings as horses could be railed direct from those districts in a short space of time. • The public from the eastern area would also have the opportunity of attending, and he hoped many settlers would join the club and make the summer meeting their annual holiday.

Thanks were due to the farm committee for their efforts during the year. Considering the low prices the profit of £154 17s lid was very satisfactory and reflected credit on the chairman of the committee, Mr. S. Pitt. Mr. Malone thanked the members of the executive for the loyal support accorded him. The election of officers resulted: President, Mr. D. J. Malone; vice-president, Mr. A. Coleman; committee, Messrs. H. M. Good, H. Cleland, S. Macalister, S. Pitt and R, R. Tyrer had been appointed by .the guarantors and Messrs. P. Skoghind and A. Nelson were elected as members’ representatives; auditor, Mr. T. H. Penn. The Government will be asked to legalise double betting on the machine and the telegraphing of bets to the totalisator. In moving the motion Mr. A. Colemam said both requests, if given effect, would result in greater revenue to the clubs aqd to the Government. It was resolved that members’ privileges be the same as last year. On the motion of Mr. Pitt a vote of appreciation was accorded the Minister of Finance, who, in the face of strong opposition, had afforded relief to clubs by a remission of the 1 per cent, on the totalisator revenue. Messrs. J. E. Avery, E. P. Pridham and G. R. Mclsaacs were elected members of the club,