POVERTY BAY TURF CLUB.

Gisborne Times, Volume XXV, Issue 2122, 3 July 1907, Page 4

POVERTY BAY TURF CLUB.

ANNUAL MEETING.

The annual meeting of the above club was held at their room at the Masonic Hotel yesterday afternoon, Mr. J. W. Nolan being in the chair. Present: Messrs J. A. Caesar, R. Sherratt, J. Clark, J. M. Robson, J. Lucas, L. T. Svmes, C. J. and F. Parker, J. M. Gouldsmith, H. Martin, J. Maynard, Dr. Morrison, and tlm secretary, Mr. D. R. DeCosta. The secretary read the report and balance-sheet as follows : “Your committee have pleasure in placing before you the report and balance-sheet for the year ended loth June, 1907, and in doing so desire to congratulate the club on a most successful year both from a racing point of view and financially. “The improvements effected by the club on the grounds, grandstand, and buildings first came into use during the past year, and wero fully appreciated by the public and the officials of the club. “Your committee, owing to • the greater amount of work and more careful supervision required in connection with the racecourse and grounds, deemed it necessary to appoint a caretaker to devote the whole of his time to the work of the club, and in December last appointed Mr. T. AV. Gibbs to that position. This, and other incidental expenses incidental to the increased buildings and mo#e up-to-date appointments in use have considerably increased the cost of working, but notwithstanding this extra expense the actual working profit for the year is £992 10s lid. From this amount, however, your committee have considered it advisable to write off the sum of £593 19s. Included in this sum is £302 Is, written off property and improvement account, and £252 suspense account. This latter account last year was in debit £390 ss, of which the sum of £137 12s has been collected, leaving a balance of £252 13s, which sum your committee hjis now written off. These writings off leave the actual balance for the year £398 12s Bd. Mr. Robson’s lease falls in in August Ist next, and it will be necessary for the incoming committee, amongst other things, to decide in what manner the extra area of land at the club’s disposal will be dealt with; as also to consider the advisability of effecting further improvements such as caretaker’s cotta pc and outside grandstand. These are urgently required, and your committee hopes in the near future to see them carried out. “It is with regret your committee refer to the great loss the club has sustained through the decease of tlie late Mr. J. A. Harding. The deceased gentleman was a keen sportsman, and always evinced a great interest in the club’s welfare. In the capacity of steward lie acted for many years, and his services on all occasions were most valuable. “The following gentlemen retire by rotation : Messrs Gouldsmith and Caesar, and are also eligible for reelection. “The thanks of the club are due to the following gentlemen: Messrs L. T. Symes as hon. treasurer, F. Parker and L. B. Sherriff (who acted during Mr. Kennedy’s absence) as auditors, and Mr. R, Thelwall as Liabilities: Union Bank £3245 12s 3d, capital £3286 10s Id, sundry creditors £3O 13s 4d, profit and loss £398 12s 8d; total £6961 8s 4d.

Assets: improvements £3979 Os 7d, property purchase £2849 7s 3d, rent £l4 3s 6d, furniture' £6l 15s, sundry debtors £57 2s; total £6901 8s 4d.

Profit and Loss —Loss : Wages and salaries £l7O 2s, bonus (Malone) £ls, rent office £lO, J. Robson £27 10s, rates and insurance £3B 4s 4d, general expenses £52 19s 2d, interest £lB6 13s 3d, depreciations £3OB 18s 3d, suspense account £252 13s, repairs £22 12s Id, balance to profit £398 12s 8d; total £1483 4s 9d. Profit: Subscriptions (56 members at £3 3s) £176 Bs, spring meeting -net profit £6OB 0s 3d, summer ditto £593 17s, training fees £6 10s, rent £9B 9s 6d; total £1483 4s 9d.

The chairman said the club could congratulate themselves. There was a profit of £992) of which it was considered advisable to write off £SOO odd, including £252 which was standing in the suspense account, and which was a good deal bigger last year. With a balance of practically £IOOO, if they kept on doing as well, they would be on velvet. The racing at both meetings was excellent, and the public expressed fileasure at the improvements, and !<■ thought he could say that they wore in a fair way to success. Improvements had been going on since last meeting, the caretaker being a handy man in planting, etc, and the club was now in a fair way to have one of the most up-to-date courses in the colony. No trouble of any sort had arisen, and he hoped thines would continue in this way, and it would do if all put life and heart into it as they had done. He propesed the adoption of the report and bal-ance-sliet.

Mr. Maynard seconded. —Carried. The election of officers was then proceeded with. Mr. J W. Nolan was unanimously re-elected chairman. He briefly returned thanks. Vice-President, Mr. J. Clark; committee : Messrs J. M. Gouldsmith and J. A. Caesar were re-elected, and Dr. Morrisan was re-elected vic e Mr. J. A. Harding (deceased). Mr. Clark brought up the matter of a two-year-old race. He was asked to bring it forward. The chairman said he had heard a lot about the matter, but it was the committee’s work. Ten new members were elected.

At the conclusion of the business, the new committee held their first meeting, and Mr. D. T. Symes was re -elected treasurer; auditors, Messrs A. F. Kennedy and F. Parker; startter. Mr. H. Piper; handicapper, Mr. J. Chadwick; judge, the Hon. Capelin Tucker; clerk of scales, Mr. R. Thelwall; tote steward. Mr. W. O. Sheets clerk of course, Mr. A. Pritchard- secretary, Mr. D. R. De Costa. A bonus of £25 for last year’s work was given the secretary. The chairman, Mr. Symes, and Mr. Clark spoke very highly of the efficient and complete manner in which —he had done his duties. It was decided to obtain a starting machine, the cost being £25.