RUGBY UNION'S PURSE.

Dominion, Volume 5, Issue 1433, 7 May 1912, Page 5

RUGBY UNION'S PURSE.

NOT A'WEALTHY BODY. Pamphlets, of which the following is a copy, were distributed by the Wellington Rugby Union at the gates of Athletic Park on Saturday:— _ "In view of some misconception regarding the financial position of tho union, the Management Committee feels that a clear statement of the position should be placed before the public. "The receipts, especially during the last three seasons, have been heavy, but the expenditure has been correspondingly heavy. The greater part of. this expenditure is incurred in connection with tho Athletic Park. It is not generally known that the freehold of the park is owned by Natives, for whom the Public Trusteo is trustee. Eighteen years ago, the Public Trusteo leasea the ijark to tho Athletic Park Company, Limited, for a period of t\venty*on© years, with <a right of renewal for a further term of twentv-ono years, and then for a still further term of twenty-one years, at a rental of 5 per cent on tho valuation at the beginning of each period, plus rates and taxes. Three years ago, the Rugby Union purchased the leaso of the park from the company (the lease then having six years to run) for the sum of jGJOOO. This amount was borrowed from the New Zealand Rugby Union and is repayable, principal and interest, at tho race of about £750 per annum. "Tho present cost of keeping the park bs a football ground is about dfilGOO per annum. The chief items in this large amount are as follow: —New Zealand Union, iroO; rates, .£250; rent, £100; caretaker, JI130; gatemen' wages, secretary, .£SO. "At the end of 19U. that is, six years from the time the Wellington Union took over the park, it is hoped that the mortgage to tho New Zealand Union will have been paid off. Tho union will then have toconsider whether it can take a renewal of the lease for 21 years. Tho rental for that term will be about .£BOO per annum, i.e., 5 per cent on ,£IO,OOO, the present valuation of the park. "The season of 1911 was easily tho best on record as to average attendance and number of matches played, and, even with this extraordinary season, the net balance of income over expenditure was only .£334 —tho total receipts being ,£33G2 and the expenditure <£3028. Threo postponements of cup matches (which is about tho' average or past seasons) or one wet representative match day, would have meant ending tho vear with a loss instead of the balance shown. No expenditure has been possible for upkeep of ground, or for renewal and substantial repair of grandstand, etc. "We ask your consideration of th# fore-1 going to dispel a widespread, but entirely erroneous, impression that the Wellington Kugby Union is a wealthy body."