WAIKATO RACING CLUB

Waikato Times, Volume 106, Issue 17804, 31 August 1929, Page 8

WAIKATO RACING CLUB

ANNUAL MEETING. MOST PROFITABLE RECENT YEAR. The annual meeting of the Waikato Racing Club was held at Toorak Chambers to-day, Mr G. Vercoe president, occupied the chair. In moving the adoption of the report and balance-sheet, already published, Mr Vercoe said he was pleased to be able to say that the year under review had been a fairly successful one. After allowing for depreciation and providing for bad debts there was a profit of £4Ol. 17s lid. Although this was not large, the season financially had been tiie best the club had experienced since going to Te Rapa.

From the balance-sheet it would be seen that £SOOO had been transferred from the accumulated funds account to the improvements account. As there was a lot of money spent on formation and laying out of the course, which really did not enhance the value of land, the committee deemed it advisable to reduce this asset by £SOOO, in order not to show fictitious values in the balance-sheet. The Auckland Country Racing Clubs’ Breeders’ Association, he said, was in the course of being wound up, and a refund of £507 3s had been made to the club, being 17s 3d in the pound of capital contributed. Referring to the club’s dates, Mr Vercoe said he much regretted to say the club again had been unsuccessful this year in its application for Labour Day, notwithstanding the fact that the Auckland District Committee recommended that they should get that date. In 1927 the Auckland District Committee and the Dates Committee recommended that Labour Day should be given to the Waikato Club, and Hie allotment was confirmed by the Conference, but the Minister of Internal Affairs refused lo grant a permit io the club to race on that date, and Hie result was a deadlock between Hie Minister and the Conference. To relieve the difficult position the committee agreed to relinquish their claim to race on Labour Day for that year only, on the distinct understanding that tho Conference would get an undertaking from the Government that the Minister of Internal Affairs would not in future interfere with the Conference in the; allotment of dates. Notwithstanding) the generous and sportsmanlike attitude adopted by the committee in helping the Conference in this matter, and the support the club had always received from the Auckland District Committee, the Conference again this year turned the application down. The report and balance-sheet were adopted unanimously. Mr G. J. Peach suggested, with a view to stimulating interest in the annual meetings, that members should be supplied with a list of persons eligible for nomination to the committee. He felt that this would have the effect of bringing out a bigger field of candidates, and might relieve some of the gentlemen who were really the “willing horses’’ of part of the burden they had been carrying for so long. If the'same committee was returned then it would give them a feeling of gratification to know that they had been elected and not merely returned unopposed.