N.Z. OLYMPIC TEAM

Hokitika Guardian, 13 August 1932, Page 5

N.Z. OLYMPIC TEAM

LOAN NECESSARY

TO MEET ALL OBLIGATIONS. ■' • 7'...77' ;7' v 7 '!■

(Per Press Association — Copyright.)

WELLINGTON, August 13.

Owing . principally, to the conversion rate being more,against the. Dominion than was anticipated, the council of the New Zealand, Olympic Association has found it necessary to borrow an additional sum up to £SOO on the security of its trust funds to meet the expenses, of the New Zealand team at Los Angeles. * The decision to this effect was made at a council meeting, when a letter from Mr W. Bundle, manager of the. team, was tabled; The letter stated that tie team arrived at Los Angeles on Sunday, July 3. The. expenditure, as furnished in the summary handed to him, was underestimated, and s it appeared that there was going to be a shortage. _ . 7 : 7 , -He had been put to some expense regarding baggage, conveyance of racing shells, and other matters he had riot anticipated; The team was one of the first to al'rive at Olympic Village, and it found that transport had not been organised properly, with the result that some expense was incurred. Tho team's sharo of the salary, of a cook amounted to 23 dollars a week, and it.was likely when the Australians left New Zealand that the team would have to bear the whole cost of the chef, 35 dollars a week. The conversion rate had declined, and at the time cf writing was in the vicinity of 3,63 dollars. V 7'

' He also had to disburse monies.onbehalf of some of the athletes and boxers who had come away insufficiently equipped. To enable the oarsmen,.to train at Longbeach, meant a journey of over 50 miles Jt day, and a launch was required for training purposes, and it was estimated that the . cost in this respect would he aboutY.lOO dollars., The statement of accounts enclosed, Mr Rundle said,; showed that funds in hand were insufficient for the barest necessities, and a remittance,by cablewas necessary, to-meet all Something in the vicinity of a thousand', dollars would probably be needed. 7.7 Mr Rundle points out that, owing •to having to remain a fortnight after, the games close, the team is likely td be left practically isolated at Olympic Village, and expenses will ; be he%vyV. He suggests it might pay to remove to San Francisco when tho Australians, leave the 'Village. '; •; 7 The council decided to leave action in, thismatter to Mr .RundleV discrfetiQtt.