FOXTON RACING CLUB.

Manawatu Herald, Volume XLVI, Issue 2758, 15 July 1924, Page 4

FOXTON RACING CLUB.

ANNUAL REPORT AND BALANCE SHEET. The following is the animal report and balance-sheet to be submitted to the annual meeting of the Poston Racing Club, to be held in the Town Hall supper-room on Monday, July 28th, at 8 o’clock. —

“The balance-sheet for the period ending 30th June, 1924, shows the club to maintain its satisfactory position. As in the previous year, adverse weather conditions on the second day of the meeting Jliused a heavy falling off in the receipts and the totalisator turnover. This was particularly unfortunate as the receipts and turnover on the first day of the meeting showed considerable increase over the 1923 meeting and had the weather been propitious on the second day the meeting would have been a very profitable one. The amount paid in stakes for the meeting was £2,i80 (the same as in the previous year). During the year, the club expended £1,293 5/5 in capital expenditure, the sum of £204 8/3 in laying on water and sanitary conveniences at the course, and the further sum of £I,OBB 17/2 in the erection of an up-to-date office on the Club’s section in Main St. It was necessary to raise £7OO on Mortgage to complete the office building, but your Committee have recently let a portion of the premises at a satisfactory rental. These premises arc a valuable asset and will undoubtedly increase in value as time goes on. The Club have been allotted Wednesday and Thursday, 21st and 22nd January, 1925, for the next race meeting. Wednesday is the statutory half-holiday in this district and Thursday is the public holiday. Despite the falling off in the receipts for nominations and acceptances a comparison of the Prolit and Loss Account for the year just ended with that of the previous year shows Unit the debit balance has been reduced from £33(1 10, o to £284 lfi/9, an improvement of £;>l 13/8. For the year ending 301 h June 1922, the loss was £451) 2 4 (i.e. £1 (if) 5/7 worse than last year). This is a very satisfactory improvement and discloses that your ( ommittee and officers arc judiciously curtailing expenditure. Tt is with sincere .regret that we have to record that Mr O. R. Robinson, owing to’ill heal ill, has resigned as a vice-president of the ( Inb aftei a long and useful service.' NOTICES OF MOTION.

Mr 0. A. Pearson has given notice of motion to move the following motion at the annual meeting:— “That Mr O. R. Robinson he electa d a life member of tin* to.vlon Racing Club Inc. Mr A. N. Smith’s notice of niolion reads as follows: • “That rule No. 50 In* deleted and that rub* No. 12 be amended in read as follows: —‘No member <>f tin* dub shall derive any pecuniary gain within the meaning of the lucorporafed Societies Act, 1908. from the property or operations of the club. In I lie event of lll'* winding U|> or intended winding up of the club, or its dissolution by any means whatever the funds, property and assets of the club -hall he dealt with and dts posed of in such manner for public and charitable purposes or horse racing, or sport, as the club shall front time to time resolve or decide. Provided that no member of the club shall receive or participate in any direct personal benefit therefrom, hut the fact that lie derives from the clul) pecuniary gain by way ot sal ary as the servant or officer of the club or derives pecuniary gam to which he would he equally entitled if he were not a member of the club, shall not be deemed personal benefit under this rule.’ ”