OHINEMURI JOCKEY CLUB

Hauraki Plains Gazette, Volume XXXV, Issue 4758, 1 October 1924, Page 3

OHINEMURI JOCKEY CLUB

ANNUAL MEETING. The annual general meeting or the Ohinemuri Jockey Club was held in the Coronation Chambers on Monday fevening last, when 63 members attended. The meeting was presided over by Mr P. E. Brenan. The report and balance-sheet were read as follows: ANNUAL REPORT. “In presenting the annual statement of accounts for the consideration of members your Committee is pleased to be able to report that the operations of the year have again proved highly successful. As disclosed by the balance-shefet, the Club made a substantial profit on the years’ transactions, and is gradually but surely improving ite financial position. During the past year the mortgage of £BOO on the 12 acres recently purchased from Mr Porritt, and on which the totalisator house, the stables, and the caretaker's cottage are situated, wai paid off, and that property is now entirely frqe of debt. “Your Committee is at present carrying out several urgently needed improvements at the course, including the banking of the bend going out of the strait, the removal and renovation of the outside Ktand and erection of a roof over it; also provision of main 'entrance gates and paths, and a number of inside and outside turnstiles. The whole of these improvements have iieen urgently recommended by the Racing authorities. The estimated cost of these improvements is ‘£l4oo, equal to the profits for thfe past year. “Af;er last race Club paid in taxation to the Government £4992, which is £1537 more than the total of stakes paid. But your Committee cannot altogether support the view expressed by many clubs that the Government’s taxation is crippling them. Th,fere is really very little additional taxation paid by clubs at present, compared with 20 years ago. Lt is the public who pay most of the additional taxation, in the shape of dividend tax. What is a great handicap to country clubs, and, indeed, to a')! clubs, is the oxfeqssive charge made by the Railway Department for the carriage of racehorses. This* should certainly be reducted by half, and would, under the circumstances, be a fair charge, and would prove of great benefit to all racing clubs, but more especially country clubs. All country clubs should take united action ir this matter. “Following the recommendation of last annual meeting, the Committee gavfe full consideration to the question of proceeding with the members’ Ktand, bu\ owing to the other urgent requirements decided that it must stand over in the meantime. “Your Committee regrets to announce the death of a very old member O‘i the Club, Mr Joseph Martin, and extends to his widow and family sincere regret at their loss. * “Messrs Barrett, Grace, McGuire, and Vuglar retire from the Committee, and Messrs Barrett, Edwards, Grace;, McGuire, Tierney, and Vuglar have been nominated for the four vacancies.” BALANCE-SHEET. The balance-sheet showed that the assets of the club consisted of: Propetry, £11,461 12s 6d ; stewards’ stand, E3S9I 4s 9d; Country Clubs’ Breeders' Association, £400; stock account, £8 7s 3d; sundry debtors; £lBO 0s 3d ; cash in Bank of N.Z., fixed deposit, £5OO ; cash in Post Office, £lO4l 3s 8d: cash in Bank of N.Z., current account, £291 9s Id; cash in hand, £4l 19s; making a total of £17,815 16s 6d. The liabilities as set down were as follows : Mortgage, £3000; Patriotic Fund, £523 3s 8d ; unpresented cheque, £2 8s; reserve for bad debts £5O ; creditor, £1 17s 3d; capital account on August 1, 1923, £12,810 9s 8d; net profit, July 31, 1924, £1427 17s lid. The revenue account for the year showed, the income to consist' of: Privileges, £414 6s sd; totalisator, £8787 8s 3d; gates, £1239 4s 10 'd ; nominations and acceptances, £1012; members’ tickets, £97 13s ; stakes tax, £345 10s ; stabling account, £4l; grazing account, £l5 19s; making a total of £11,953 Is 6d. The exp'enditure items were: stakes, ,£3455 ; auditors, £4 4s ; insurance, £5B 19s ; levies and donations, £97 12s 3d: printing and advertising, £lO6 17s Bd. salaries and wages, £419 Is; care- • taker, £200; interest, rates, taxes, £438 2s 7d; rent, £46 16s; jockeys' fees, £2 6s; general expenses, £233 9s 9d: legal expenses, £64 18s; bad debts written off, £55 13s ; reserve for bad debts, £5O; Government tax, totalisator £4520 17s Id, stakes £345 10s, and amusement £125 17s 3d; leaving a net profit of £1427 17s lid. There'was very Httlte discussion on the balance-sheet, and on the motion of Mr W. J- Towers, seconded by Mr F. E. Flatt, the report and balancesh'eet were adopted. ELECTION OF COMMITTEE. For the four vacancies on the committee the retiring members, Messrs Gr.;ce, McGuire, Barrett, and Vuglar, were re-elected, the other candidates being Messrs F. Tierney and E. Edwards VOTING BY POST. The notice of motion proposed bw Mr W Neil and seconded by Mr A. McGuire, that at future annual meetings the system of electing the committee be by post, was carried, and the committee was empowered to make the necessary arrangements. The notice of motion proposed by Mr E. Edwards, that in future the president of the Ohinemuri Jockey Club be elected by all the members of the club, and that the election be held each year at the annual general meeting of the club, was lost, the voting being 23 for and 30 against.