YEAR'S PROFIT WAS £502

Chronicle (Levin), 10 July 1947, Page 4

YEAR'S PROFIT WAS £502

,. — , — ^ . — • — Success of Racing Club's Activities Despite . heavy expenses and outlay, the Levin Racing .Club's year has ended with the very satisfactory.profit of £502 2s- 4d and liquid assets aggregating £7022 14s. This was revealed at .the annual, meeting of members last. evening, over whieh the president, 'Mr. E. M. Ryder, presided. The attendance was not as large as in some past years, due perhaps, to the faet that no election of offioers was fiecessary. Apologies for absence were received from Messrs. L. Procter, *T. Bevan, W. Bull, N. D. Tilley, W. Ryder and N. M. Thomson. Past Year in Retrospect The annual . report submitted by the president, on behalf of the committee read as follows: — "Two. meetings were held during the period under reyiew, The benefit meeting on the Otaki racecourse

on June 8, 1946, was welKpatronised under fine, if cold conditions. The totalisator turhover > was £51,470 and your committee- had the gratification of handing the Levin R.S.A. a cheque for £1239 16s lOd towards the memorial hall. "Extensive improvements \and reconditioning, including the shifting and enlarging of the totalisator house, preceded the November meeting held on the Levin course last year. Atrocious weather conditions prevailed, yet the popularity of the club was well demonstrated by a surprisingly good attendance, resulting in the totalisator handling £55,882. "Gaming Commission: Representations to restore the day taken away in 1910 were made to the commission at Wellington. The outcome will be awaited by all members with interest. "Portable Electric Totalisators, Ltd. : The club is a member of this company. It is anticipated that patrons will have the -benefit of the latest- electrical equipment for the November, 1947, meeting. "Complimentary banquet: A fitting tribute in appreciation and honour of Messrs. Walter Ryder, J. W. Procter and F. A. Nicholson was held in Levin last August.

"Racecourse property: Protracted negotiations with the Horowhenua A. and P. Association -have been carried on throughout the past twelve months. A mutual viewpoint has been difficult to achieve. The committee is hopeful that in the near future a reconciliation of opinions, with adjustment of finances, will- result in a workable constitution. "Office-bearers: All officials performed their duties with zealous ability throughout the year. The restoration of the Levin course and buildings to racing , proved an arduous time." Finances Reviewed The financial statement, duly #audited,s > was, p^esentedy.,- by, . thei secretary, Mr.' R. G. Romans. The income and expenditure aecoimt showed receipts totalling £12,545 13s lOd, the principal items being totalisator revenue £8696 4s i9d, gates £1443 19s 2d, nominations I and acceptances £1032 10s and totalisator tax rebate £500. Expenditure totalled £10,102 7s 2d, the main expenses being stakes £5370, salaries and wages £1800 16s lOd, advertising, printing and stationery £619 4s 8d, repairs and maintenance £571 13s 2d and depreciation £442 8s 6d, leaving a net revenue for the year of £2441 6s 8d. Of this income social security tax absorbed £699 s 6d, while a donation of £1239 16s lOd was made to the Levin R.S.A. Memorial Hall fund. Thus a surplus of £502 2s 4d remained on the year's worklng. In the balance sheet liquid assets were shown as follows: Credit balance with bankers £4154 19s 5d, invested in Government stock £80, war savings aecount £1092 14s, P.O.S.B. account £548 3s 6d, plant account £640 19s 6d, tote tickets stock account £150 and sundry debtors £355 17s 7d. The' club's buildings are the main fixed asset and they were shown at £6365 after allowing £335 in denreciation.

On the motion of Mr. F. H. Best, seconded by Mr. N. W. Ryder, the report and financial statement were adopted. i Officers for Year Nominations for the principal offices closed recently and as the ' number in each case did not exceed : that required, no election was I necessary.

They are as follows, last year's office-bearers all being re-elect-ed: — President: Mr. E. M. Ryder; Vice-presidents : Messrs. T. Bevan, i W. Bull, W. C. Hannan, S. L. Jackson, S. B. Mexted and Dr. S. J. Thompson; stewards: Messrs. H. J. Bell, F. H: Best, G. C. France, G. D. Harris, Geo. Lamb, D. W. McLennan, N. W. Ryder, W. C. Standard, A. Stewart, G. H. Vickers, M. Wills and E. R. Winkler. At the meeting Mr. J. Jr-Maher, M.P., was elected patron, while Messrs. Burdekin and Walker were reappoihted auditors. in thanking members for his reelection, the president " expressed the hope that the weather would be more f avourable for the . club's meetings in the coming year. It was. anticipated that the electric totalisator would be instafied- by November, he said, and with the programme committee workifig on the right lines the club should be able to stage a very attractive meeting. Generous Donations The' president then informed the members that for the Levin Cup at the ' November meeting Mr. C. Larsen had donated a trophy valued at 35 guineas, for the owner of the winning horse and a gold-mounted whip. for the rider of the winning horse, while Mr. George Lamb had offered to give a

stop watch to the trainer of the winning horse. "We have some good sports in the club," ~ - saidf ; the president,. * "and while they are with us the club should prosper. . The Levin Cup this year will be a particularly attractive event." Other Business The mee'Ging was told of the introduction of a suggestions book, which would be available at the secretary's office, in which members could place any ideas they might have for the improvement of the club. Any suggestions made would be considered by the stewards, and their decision would be entered in the book, to which members would always have access. Reference was made to a donation to the club, by Mrs. Walter Ryder, of an enlarged photograph of her husband, a past president and steward who had rendered the club sterling service over a long period of years. The president advised that the photograph was now hanging in the secretary's office,* and that Mrs. .Ryder had been thanked for her gift. A letter was read from the Levin R.S.A. recording Its appreciation pf the - very generous contribution ihe club had made to the Memorial Hall Appeal. The substantial sum realised from the race meeting at Otaki on June 5 and paid over to the association had been made possible by the club donaiing •the whole of the nett proceeds from the first meeting resulting frorn the reinstatement of the club's second day. The association, continued the letter, .also appreciated the individual donations made by club members who had not taken advantage of their members' ticket, but paid for entrance to the course. "The fine spirit .of the club and its members has given the association a big lift towards its ultimate goal."

New Rules Adopted Notice of motion having been given at the last annual meetings a new set of- rules was tabled and adopted. It was resolved that when they had been registered with the Registrar of Incorporated Societies they be printed and circulated to all members. The main feature in the alteration deals with the method of electing the 12 stewards, which in the past has been carried out by ■ calling-for nominations prior to the annual meeting and holding the, election at the meeting. Under I new rule four. stewards will ret4 e annually in rotation and be eligible for re-election. Another amendment now gives the stewards power t'o determine the entrance fee and annual subscription instead of the annual meeting. A new member will now require to be proposed and seconded in writing by any two members of the club, and to sign a nomination form. A motion of thanks was passed to the sub-committee, comprising the president, secretary and Messrs. W. C. Hannan and sl L Jackson, for its work in framing the nev/ rules.