NAPIER PARK RACING CLUB.

New Zealand Illustrated Sporting & Dramatic Review, Volume III, Issue 107, 11 August 1892, Page 8

NAPIER PARK RACING CLUB.

(by WIRE —FROM OUR OWN CORRESPONDENT) Napier, Wednesday. The annual meeting of the members of the Napier Park Racing Club took place last night. The following report was submitted: “ In issuing the sixth annual report your committee are pleased at being able to attach a statement of accounts of a satisfactory character, which shows the continued high estimation in which the. club is held by the members and the public. The four meetings that have been held were favoured by large fields and good racing, and were well patronised by the public^—All-except the Winter Meeting show a large profit. The revenue of the clqlo this year has been £'6654 as against £41 16 last season, although the sum of £4OB has been expended in improvements and £127 in labour and plant. The overdraft at the Bank has been reduced by £660, and had it not been for very bad weather at the Winter Meeting it would have been much further reduced.”

The balance-sheet gives the following results : — Receipts, Spring Meeting, £lBB4 18s 2d; expenditure, £1232 ss. Receipts, Summer Meeting, £1029 17s; expenditure, £621 14s. Receipts, Autumn Meeting, £2734 2s 3d; expenditure, £1612 iBs9d. Receipts, Winter Meeting, £645 2s 6d; expenditure, £592 12s sd. Other receipts : Subscriptions, £”164; training fees, £2B ; fines, £b\ sheep sold, £64; accounts collected and sundries, £76 ; rent from Friendly Societies, £zx> ; total receipts, £6654; total expenditure, £5945. The liabilities are set down as follows: —Overdraft, £563 ios 8d ; rent owing, £200; surplus balance of assets, £l6OO. Assets: Improvements, £1921 9s 7d ; plant and furniture, £562 5s 8d; accounts due to club, £45 ; total, £'2518 253 d, less £ 165 4s 7c! written off for depreciation. Mr. J. Close, the president, made a few remarks on the report and balancesheet. He said the Spring, Summer, and Autumn Meetings proved a great success, but exceptionally unfavourable weather attended the Winter gathering. Notwithstanding this drawback the result of the season’s operations financially were pleasing. £3248 had been disbursed in stakes; 664 horses had been nominated, of these 278 started. For the Park Stakes they had sixteen starters, which was the largest number of starters for any important race in the Colony during the season. Great alterations and improvements had been made, and superior accommodation provided for the public, and the whole property improved. Last year their overdraft stood at £1227, but this had now been reduced to £563. Good progress had been made by the Club, which was a matter for congratulation. He moved the adoption of the report and balance-sheet, which Mr. J.

Griffin seconded, and the motion was carried. The election of officers resulted as follows :—President, Mr. J. Close ; vicepresident, Mr. J. Heslop ; treasurer, Mr. E. W. Knowles ; judge, Mr. J. Bennett; stewards, Messrs. J. McVay, W. Heslop, D. Glendining, R. Sweetapple, J. G. Swan, T. Sidey, T. Shirley, and G. H. Swan. Nineteen new members were elected. A meeting of the committee was held subsequently, when the programme for the ensuing year was drawn up. The result is that the stakes for the Spring Meeting have been increased from £lO4O to £\ 175 or by £135- All the £4O races have been increased to £5O. The Hurdle Race on the first day has been increased to £100; the Racing Club Handicap on the second day to £l5O ; and the Grandstand Handicap to £75. All the stakes have been increased at the Summer Meeting, the total being £620, or £llO over the amount given away last year. The Autumn Meeting has been increased in stakes by £165. The chief alterations are £5O attached to the Napier Cup, which is now £350, and the City Stakes to £ 125 ; the Sapling Stakes on the first day to £lOO ; and the Flying Handicap to £l2O. The total given away for the meeting is £ 1505. The total increase in stakes for the three meetings has been made up to £3300 from £2890 or an increase of £4lO. It was decided, owing to the contemplated alterations to the course, not to hold a Winter Meeting next year.