SPORTING.

Hokitika Guardian, 14 September 1932, Page 6

SPORTING.

WELLINGTON R.C. LOSS. BETTING FACILITIES URGED. (Per Press Association — Copyright.) WELLINGTON, September 13. Sir iE. L. Riddiford, in his presidential address at the Wellington Racing Club’s annua' meeting, said the. yeans ■ net actual loss’ was £363, but including bad debts and depreciation, a sum of £171:4' was shown &s the deficit for the year, compared with a lo s s .of :£5939 in’the previous year.-While .the.- ’ cljub had been, able to reduce 1 , sub-' ‘stantially the lo&s this year compared/ with last, it was significant, this ,result ■had only been obtained by reducing ‘stakes by £12,190, and general ,■ expenses by £4212, a total of £16,402. as bn the other side of tile ledger the net totalisator revenue had,, fallen by 834499, and general receipts by £6117. a total of £10,986. .The continued fad, in revenue gave cause for much concern. A bank overdraft of £6OOO had to be negotiated during th 6 year, which wa,s guaranteed to the extent of £4OOO by members personally. It was extremely doubtful ,whether Wellington and other dubs would be ab’e to continue without much greater relief from taxation than the recent concession worild afford. ! The president added • that the reinstatement of ' the double total i&atoy,.. fdegraphing investments, and the pub- ' Ideation of dividends avould considerably benefit clubs, and largely eliminate illegal betting. The meeting adopted a resolution, urging the Government to legis’ate to this’effect. Mr Riddiford was reelected as president.