MANAWATU RACING CLUB

Wanganui Chronicle, Volume 74, Issue 190, 13 August 1931, Page 4

MANAWATU RACING CLUB

LOSS ON YEAR S WORKING. ANN LAL REPORT ISSUED. Still another racing club has to reeord a loss on the year's opt rations, this being the Manawatu Racing Club, which has Issued its annual report and balance-sheet for the annual meeting to be held next Tuesday’ night. The president, Mr C. Louisson. has the following report to make on behalf of the committee: The committee, in presenting th*? fifty-first annual report and statement of accounts for the financial year ending June .30, 1931, regret that it is not as satisfactory ns many of the pre v ion - statements which have been submitted. It should he noted that the income and expenditure account includes the two days’ winter race meeting conducted by rhe club in 1930. the figures, therefore, covering seven davs’ racing

this year as against five days iu pre vious years. The decrease in all classes of revenu received b. ’ the Club can be attribute! to the unprecedented world-wide finan •cial depression from which our owi |country has not escaped. The totalisator turnover for the tw days winter meeting, 1930, amounted t £25,692. The turnover for the surnme meeting, 1930, and the autumn meeting .1931. was £110,132, as against £171,12 for these two meetings in the previou season, the decrease being £60.992, o approximately 35.6 per cent. The turn over for these two meetings is the low • st recorded since 1911. The income and expenditure aeeoun shows a loss on the year’s working <•: £1954 Ils 9d. after writing off the sun of £782 for depreciation. No perman ent improvements at the racecourse hav. been undertaken during the year, th< expenditure being reduced to worl necessary for the preservation of thi buildings and other appointments in reasonable state of repair. The train ing tracks and facilities have been wei ■ maintained. and many' favourable com rnents were received during the yea: • fr<>m visiting owners and trainers. The committee applied for and tin • iu;» was granted an additional tw\ days’ totalisator license for the pas' season, the license being used for a win ter meeting on July 22 and 23, 1931 Owing to the severe depression deferret To above and to unfavourable weathe; conditions the result was not as satis factory as anticipated. The committee records, with deep re gret, the death during the year of tlx following members of the club: Messr 11. ]■.. Best and H. G. Wilton. Message; of condolence were sent to the relative I concerned.