ASHBURTON CRICKET AND ATHLETIC SPORTS COMPANY.

Ashburton Guardian, Volume IV, Issue 1048, 14 September 1883, Page 2

ASHBURTON CRICKET AND ATHLETIC SPORTS COMPANY.

A meeting of the above Company was held this morning at Messrs Matson, Co.’s offices, when there were present Messrs 0. P. Cox (chairman), Thos. Bullock, S. Saunders, A. Orr, W. H. Gundry, and S. B. Nelson. After transacting some minor business of the Company, the following report was read and considered : Your Committee have to report that some unexpected delay was occasioned last autumn in laying down the Company’s ground through the action of the Borough Council in refusing to en.ertain the Company’s offer to purchase the surplus earth upon the' East Town Belt. Fortunately, however, your Committee were able to make arrangements with the Wakanui Road Board for the surface cirth on the Trevorton roads, which are close to the ground, and about 2,000 loads of earth have been carted. The Company are much indebted to the Road Bbard lor their courtesy to our deputation who waited upon them, and for entertaining our offer, and which we think has resulted in our mutual benefit. Messrs Sealy Bros have fulfilled their contract for levelling and sowing the ground in a very satisfactory manner, and the grass has come on so well that we thiink the Company may at once make its arrangements with the various .Clubs for the use of t e ground for the ensuing season, An Althouse windmill pump has been erected at the northern end of the ground for watering purposes, and pipes laid into parts of the ground with which to connect the hose. Arrangements have been made with Messrs Sealy Bros to keep the ground in order till. Christinas. Two cinder and two grass tennis courts have been 1 fid out, and the former will be ready for immediate use. A cinder running path, a quarter of a mile long, has been forn.ed, and portions of the ground allotted for quoits, bowles, football, etc., when these games are in season. The centre of the ground has been laid down for cricket, special attention having been taken with the pitch. The fence which has been erected and planted with macrocarpa will meet all the requirements of the Company for some time to come, and is erected in such a manner that it can easily be converted into a close fence when required. A contribution to the cost is still to be collected. Appended to this report is a statement of the financial position of the Company. The Sub-Committee suggest that a sufficient sum of money should be borrowed on the Company’s ground to cover all the liabilities, say a mortgage of L4OO repayable by instalments spread over ten years, and L2OO repayable by instalments spread over two years. The repayments of principal and interest on ,these loans will be under LIOO per annum, which can be met by small calls upon capital, which we think will be preferable to calling up the capital too quickly, and will leave the income from rents and gate money to be allotted in dividends or otherwise, or, the repayments can be made out of the income at the option of shareholders. At present only 144 shares have been allotted, representing L 720, of which L 144 has been called up and Li 13 actually paid. Promises to take up further shares to the extent of over 100 have been received, but the Sub-Committee have not in any way calculated upon this in their statement. If these shares are applied for, it will not be necessary to make any heavy calls upon the subscribed capital. A horse mower and horse roller have been obtained for the Company at a most reasonable cost. It is suggested that a Sub-Committee should be appointed to deal with the Committees of the various Clubs with power to make arrangements as to the rents to be charged and other details.