PATEA RACING CLUB.

Taranaki Herald, Volume LV, Issue 14095, 29 December 1909, Page 4

PATEA RACING CLUB.

ANNUAL GENERAL MEETING.

Thevannual general meeting of the Patea Racing Club Was held last week, Mr. H. O. Clarke presiding. The ; QQmmittee in its annual report stated; Ifbat the race meeting held last year oh the Egmont Racing Club's course had been a great success in every way. During the year the course proper had received attention and was now in good condition, and there was every prospect that it would be in excellent order for the annual race meet^ ing to be held in March next. An inner track for training purposes was now in course of formation, and whoff completed would be a great benefit to horse owners. Both tracks were securely fenced. A perusal of the balance sheet would satisfy members that the financial position of the club was very gratifying. . In the statement of assets and liabilities the former were valued at £1147 16s 9d, and there being a liability of £5, the credit balance on the account totals £1142 16s 9d. The expenses of the last meeting, amounted to £736 16s 10d, a sum of £550 being laid out in stakes. Course improvements account-

ed for an expenditure of £89, and £64 18s 8d has been written off for depreciation. TTie club commenced the year now ended with a balance of £932 13s lid.

Mr. G. Williams, chairman of the general committee, in moving the adoption of the report and balance sheet, said the previous year's operations had been successful. Since the balance sheet and report had been drawn up the contractor had been working at the training track, and it wqp now about completed. The speaker and other members of the committee had inspected the track, and in a few days it would be in very good order. ,' * It was stated in reply to a member that on the training track when completed there would be a liability of £21 10s.

Mr. Christensen expressed the opinion that the balance sheet showed the position of the club in almost too advantageous a light. .It was a question whether some of the clubs waultt not be cut out under the new regulations, and it would not do to make the dub appear too wealthy. If the assets had to be realised to-morrow they would not fetch one-fifth the v^lue shown on the balance sheet. He thought it would be advisable to cu^,,do\vn to a ceitain extent the valuations appearing on the balance' sheet. They should attompt to show somf thins like' the actual cash value of tho assets! Ten or fifteen ]!>s>r c^nt. ought to be< written off annually for depreciation. Mr. Williams said the committee had gone into this matter and thought that 7i per cent, was ample to take off for depreciation. The report and balance-sheet were adopted. , . On tho motion of Mr. Clarke it was agreed that the annual race r meeting bo hel&.on Easter Monday.

The following office-bearers were appointed :— President, Mr. G. Williams ; vice-presidents, Messrs. S. Gfllifinn and G. V. Pearce, M.P, ; judge,' Mr. A. Pearce ; treasurer, Mr. G. W. Booth ; clerk of the course, Mr. Jas. 'Paterson. On a ballot being taken the following were elected to the coittmitteet: — Messrs. J. M'Carty, Jas. Paterson, 1 C. Honeyfield, S. M'Rae, A. Pearce, G. Wjlliame, J. R. Paterson, T. Campbell, W. Rigg, and I*. Jones. , ... It .was agreed that the committee act as stewards. On the motion of Mr. Christensen a vote of thanks was accorded the retiring president, Mr. H. O.^Ctorko Mr. Williams, in seconding the proposition, took the opportunity of thanking members for the honour rhey had done him in making ,him piesident.