THE LEAGUE CODE

Gisborne Herald, Volume LXVI, Issue 20107, 29 November 1939, Page 9

THE LEAGUE CODE

LOSS ON ENGLISH TOUR TOTAL OF NEARLY £4OOO Presented to the meeting of the council of management of the New Zealand Rugby League in Auckland, the audited balance sheet of the recently cancelled English tour disclosed a net loss of £3827 7s 9d, and provided for £322 12s 3d being distributed among investors of Kiwi Tours, bondholders in the venture. The travelling expenses, including the cost of assembling the team, and oilier tour commitments totalled £4266 4s sd, revenue being the share of two gates, at St. Helens and Dewsbury respectively, amounting to £438 16s. Taking into consideration the position revealed and the •effect on the council’s general financial position, the president. Mr. J. A. Redwood, claimed that, having regard to all the unfortunate circumstances, the outcome could be regarded as highly satisfactory. The deficit was much less than that formerly anticipated. This was as regrettable as it was unavoidable, but the team was a credit to New Zealand. The balance sheet was adopted. The matter of . further reimbursing the bondholders was subsequently discussed in committee, and a proposal referred to a special committee for a report. No official communication having been yet received from Australia for a New Zealand team to tour there next year, the chairman said the matter would receive consideration in due course.