REVENUE SEIZED

Hokitika Guardian, 9 April 1931, Page 1

REVENUE SEIZED

SURPRISE FOR RACING CLUB. AUCKLAND, April 7. A Supreme Court wan nut which ras served on the secretary oi the \\ ailapakauri Racing Club lor the 1 whole if the day’s revenue at the annual neeting yesterday also covered memiers’ subscriptions and nomination, aceptance and riding fees. It was the uteome of proceedings taken by a firm f Auckland solicitors on account ol a nmpany. The president of the Racing Cluh, [)• T. J. Fleming, said to-day that arangements had previously been made ith the management of tlie company ir extended credit, and one-third of he total account was to he paid on pril 30th with promissory notes for wo further payments hearing interest t 6 per cent. The Auckland principals l j owever, recently informed the cluh nit these terms were not acceptable, ut it came as a shock to the club wlum , found itself relieved of the whole f the money received at the .Meet-

Mr Fleming said that as a result of this action the club was placed in a most embarrassing position, and although nearly C3OOO had been spent on its property and the course was the best in North Auckland, the cluh would now probably he forced into licpiidation.

The committee held an emergency meeting to-day, and it was unanimously decided that no matter what the outcome of yesterday’s proceedings, the committee would see that jockeys and winning owners were paid in full. The prize-money at the Meeting yesterday totalled £250.