CANTERBURY JOCKEY CLUB.

Globe, Volume XXII, Issue 1938, 11 May 1880, Page 3

CANTERBURY JOCKEY CLUB.

Balance, assets above liabilities ... ,-63509 12 11 G. G. STEAD, Hon. Treasurer. The following statement was also read by the hon. treasurer, Mr Stead From the balance-sheet just laid on the table, it will be seen that the outgoing committee leave you with an overdrawn account of .£240 7s Id, but I am pleased to be able to point out that notwithstanding this apparent deficit, the club never has been in a sounder position. It will bo in the memory of most members that when we arranged for the construction of_ the branch railway, the cost of which to date is £3135 13s Id. we undertook to repay the same within three years. Wo paid out of the ordinary funds of the club £SOO in November, 1878, £SOO in November, 1879, and the railway itself has earned £1267 2s Cd, thus leaving a balance of £B6B 10s 7d to be provided for next November. Finding we had a credit balance of some £6OO after paying all matured liabilities, it was considered advisable to clear oil this balance of the railway account, even though it necessitated a slight overdraft upon the general account. I may, however, here say that the Union Bmk has always moat liberally allowed our credit balance on the current account to be considered as a set off when calculating the interest upon the railway account, so that we do not actually gain anything more than a simp'ification of accounts. Before leaving this subject, it should be stated that we owe £IOO to the Government for an alteration to the siding, but payment for the same is not due until April, 1881. If I have made myself understood it will be seen that our position is most satisfactory, as wo have our railway fund (excepting the £ 100 referred to), and our liabilities of every descrip-tion-including dependencies for Derbies, Champagne and Welcome Stakes—amount to something under £SOO. A reference to the balance shoot will show that we held two meetings during the year, when wo paid away £1502 Is in stakes, of which, as will bo seen per contra, £2231 was provided by owners for nominations and acceptances, deduct from this £lßl for nominations to the Welcome Stakes and C.J.C. Handicap for next November meeting, and it will be seen that a net sum of £2512 lOs has been provided by the club, or a far larger net amount than has over hitherto been provided by any other club in New Zealand. The expen' cs, however, exceed those of last year by £43 2s 6d for attendance at the course, and £22 16s 9d for advertising, amounts I hope to see reduced during the coming season. I will now tnrn from the past to the future, and ask the Club to instruct the incoming committee to take immediate steps for the erection of a grand stand suitable for our requirements. Onr races and racecourse have always been so unquestionably in advance of anything to bo seen elsewhere in New Zealand that we must provide the public with a comfortab e and convenient stand, consistent with the importance of our races, if wo intend retaining in Canterbury the head-quarters of racing in New Zealand. This question of a grand stand has been carefully considered by the outgoing committee, who expect plans from Sydney, which, I think, will show that a building 150 ft. in length, and capable of seating 1000 persons, including lanchoon room, weighing bourn, judge’s box, stewards’ stand, members’ carriage enclosure, and now fences, can bo completed tor about £3OOO. This money, I have no doubt, can bo arranged for if members will guarantee it, and I have no hesitation in stating the Club can repay it by instalments without difficulty within a reasonable time, if they consent to incur the liability.

At the anrur.l meeting of the club, held on Saturday afternoon, the following statement of receipts and expenditure for the season ending 30th April was read : — Eeceipts. £ s. d. £ s. d. Subscriptions, members ... 3GG 10 0 „ general 49£ 5 S 865 15 s Nominations and acceptauccs 2231 0 0 Grand stand,&c. races... ... 1006 10 G Do. review ... 297 10 G 139-1 1 0 Loss refnnd to Review Committee deducting expenses 111 14 8 1252 G 4 Railway eutrarces, races 4S9 11 0 Do. review ... 30G 11 6 796 2 G Less refund to Review Committee ... 153 5 9 612 1G 9 Sale of booths 799 0 6 Less refund to Review Com764 9 1 2659 12 2 Hobbs and Goodwin, right of selling cards 175 0 0 130 0 0 305 0 0 Training fees 01 5 0 Selling races, surplus 4G 0 Trotting match, on course Fines from jockeys 11 0 0 Registering colors, Campbell 1 1 0 it 3 0 Total receipts 6215 15 10 Balance in hand 30th April, 1879 60 5 10 ,, overdrawn 30th April, 1SS0 216 7 1 £6522 8 9 Expenditure. £ s. d. £ s. d. Stakes, November, 1879 ... 3212 2 0 „ March, 18S0 1350 8 0 1562 10 0 Salaries, Secretary 150 6 0 ,, Hawkins 75 0 0 09^ Attendance, &c., at Course — Men at gates 81 0 0 Attendance at stand 20 7 0 Railway Band 14 0 0 Second starter 5 0 0 Carting to course 25 19 0 116 G 0 Repairs to fences, stand, and sowing ryo grass, &c. 81 14 0 Advertising and printing ... 84 3 11 Sundries — Cash bag 1 13 0 Stencil plates 11 16 0 Stationery 8 0 u O’Connell, assisting scoretary 3 0 0 Hire of flags 1 13 9 Expenses in connection with the Governor’s visit ... 9 2 0 Treasurer’s account, postage on circulars, &c. ... 4 1 0 Secretary’s account, telegrams, &c. 1 7 3 Australasian Stud Book... 2 5 0 Coals for road roller, 1878 1 13 0 Secretary’s cab hire 9 12 G 51 4 3 Total expenditure ... £5153 18 2 Canterbury Jockey Club, Eailway Company, November, 1879 500 0 0 Do March, 1880 ... 80S 10 7 1368 10 7 £6522 8 9 By Balance ... £216 7 i ASSETS AND LIABILITIES OF THE CANTERBURY JOCKEY CLUB Eor Season ending 30th April, 1880. ASSETS £ s. d. Kent due for course 140 0 0 Railway'and land purchased. say 3000 0 0 Wooden stand built 1876, msured for ... 1000 0 0 Improvements on course, &c £1110 0 0 LIABILITIES. £ s. d. £ s. d. O verdraft at Bank ... 216 7 1 Derby entries, 1880 78 0 0 „ „ 1881 92 0 0 Welcome „ 18=0 61 0 0 Champagne „ 1881 50 0 0 Amount duo railway 100 0 0 630 7 1 Balance 3509 12 11 £1110 0 0