SPORTS GROUND COMPANY.

Timaru Herald, Volume XIIC, Issue 13596, 16 May 1908, Page 6

SPORTS GROUND COMPANY.

ANNUAL- MEETING

The fourth annual meeting of the South Canterbury Sports Ground Company was held yesterday afternoon, Mr G. It. M. Jones presiding over a fair number of shareholders..

The report of the directors congratulated shareholders on a successful year. Ten sections fronting on Otipua Road and Raymond Street were sold, realising satisfactory prices, £936 having been paid for the 2 "acres disposed of. The new pavilion had been completed, and pi-oved very convenient, especially in the way of dressing rooms, and the grounds had been enclosed by a high iron fence. The directors suggested the further improvement of the grounds by making terraces at the north and south" ends of No. 1 Ground, but it; would be necessaiy to allot more shares before this could be undertaken, and the company was in such a sound financial position' that the directors could confidently recommend the shareholders to increase their holdings. The profit and loss account showed expenditure £66 19s 7d, and receipts £66 Is 3d.

Mr Jones informally moving the adoption of balance-sheet, explained the position *i tin? company and the result; of the years working. He recommended shareholders to increase their holdings and to endeavour to get more people to take up shares. The. company was formed for the benefit of sport, and the directors had endeavoured to run the business on a low expenditure .so that the different sports clubs mightget the benefit by being charged the lowest rent possible. Dr Thomas,. Messrs Sealey and TurnbulL were unanimously re-elected to the Board of Directors, and Mr Hassell was reelected auditor for tin- ensuing year.

A general discussion ensued with reference to the affairs of the company, and it was suggested that members of the various -ports clubs l>e approached with a view lo getting them to take up shares so that the company might reduce 'h- bank overdraft and so saw the intei-.-t which now being paid, ;cs ibis would enable the company to still further reduce the rents now being charged, and would benefit- not- only the clubs but sport, generally. The meeting closed with a vote of thanks to the •■liairman.