ATHLETICS

Timaru Herald, Volume XIIC, Issue 13904, 15 May 1909, Page 6

ATHLETICS

SPORTS GROUND COMPANY

The fifth annual meeting of the South Canterbury Sports Ground Company was held in the Sophia street Tin 11 yesterday afternoon. Dr. C. E. Thomas, one of the directors, was voted to the chair, and presided over a gathering of a dozen shareholders. The report, and balance-sheet,, which were adopted without discussion, stated that there was n small debit balance 'for the year, owing to the expenses of working having increased in an unexpected manner. The demand for sports grounds had increased considerably, and it was anticipated that this would be a. further source of revenue to the i company. There was still room for further improvements in the grounds, which would mean an increased revenue to the Company and the Sports Clubs, but as the directors did not feel inclined to incur further expenditure and increase the liability of the Company, it would be necessary to allot more shares before more money would be laid out. The Company were in a sound financial position, and it could confidently recommend shareholders to increase their holdings and obtain implications from others interested in sport. The financial statement showed that thpre had been a net loss on the year's workings of £'2<i .'is Id. Last year the bank overdraft had been reduced, by £6OO. The three new directors elected for the vacancies were Messrs H. H. Eraser, F. A. Raymond and G. Simmers, the first-named two being re-elected. Mr C. E. Hnssell was re-elected auditor. Mr Tvnuhley an- j proved very much of the proposal made in the report to try and obtain applications for shares from those interested in -sports, and on his motion the meeting resolved that the directors bo ?v«'omnien' 7 "d to t"ke stens in th.it direction. The" meeting closed with votes of th'inks to outgoing directors and the chairman.