SUCCESSFUL YEAR

Manawatu Standard, Volume LVII, Issue 222, 19 August 1937, Page 14

SUCCESSFUL YEAR

MANAWATU RACING CLUB.

BEST SINCE 1921

PROFIT OF OVER £4400.

“I think it is evident to members that in a perusal of the figures set forth our operations show a particularly good result; as a matter of fact, from a financial point of view it has been the most successful year since 1921,” said the president of the Manawatu Racing Club, Mr C. Louisson, in moving the adoption of the report and bal-ance-sheet at last evening’s annual meeting of the club.

“There is no doubt,” he added, “that the extra spending power of the people, the Saturday half-holiday and the increase in our stakes are the principal factors in the success achieved. - ’ There was a good attendance at the meeting and all expressed gratification at the satisfactory result. “The committee,” went on Mr Louisson, “have made every endeavour to popularise the club with visiting sportsmen, and we may modestly cla.im that these efforts have been generally appreciated. Since the destruction of our stands and other damage to the course, our buildings and appointments have been completely restored, and during tho year a sum of £SOO has been spent for additions to tho main stand. TOTALISATOR FIGURES.

“Without trespassing on the figures of our honorary treasurer too much, I would like to mention that our totalisator turnover was £142,460 for the three meetings, an increase of £55,315 on the previous year. The stakes given were £BB4O, which was an increase of £1750 on the previous season.

“We have collected and paid in taxation: —Totalizator tax, £5698 8s; dividend tax, £6231 10s; stakes tax, £BB 4s; amusement tax, £416 11s. These figures must be considered very satisfactory, and compare most favourably with the stakes and turnover of the metropolitan clubs. “Awapuni-trained horses won an aggregate of £13,793 in stake money, an increase of £5166 on the preceding term. This position must be pleasing to owners who have had their horses trained here.

“I would like to refer to the improved alterations made in our parking areas; these have involved a large amount of work by the special sub-com-mittee; this committee was very ably assisted by the police and Automobile Association, and the club desire to thank them for service rendered.

“Our club has made repeated applications for an extra day’s racing, but owing to the number of days allotted being fully taken up, there is no extra day available for any dub this year. “The dub was represented at the Racing Conference dates committee to defend the objections made by three other clubs to our*Christmas dates, and, I am pleased to state, attained our objective. “The committee have completed an agreement for a road at the back of the course for the ingress and egress of members, which will help to do away with the crush at the front gate. We are also negotiating for a new road on to the course from Foxton Line, which would be a great convenience for the public if completed, and should do away with a lot of congestion. The committee have in hand the matter of debentures which expire next year, and hope to make different financial arrangements which will save the club a large amount in interest. The Trotting Club have had the use of the courses for their meetings, which have proved very successful for their club. HANDICAPPER RESIGNS.

“I have to report that Mr J. Henrys, who has been the club’s handicapper for 41 years, has sent in his resignation. I would like this meeting to place on record Mr Henrys’s valuable and loyal service over this long period to the club, and express to him our satisfaction and appreciation for the work he lias done, and also to wish him every future happiness and enjoyment combined with pleasant recollections of the club.

“The use of the course has also been given for the schools for their annual picnics, and it has proved an ideal spot for these outings. “It is with sincere regret I refer to those members of the club already mentioned in the committee’s report who have died during the year, and our great sympathy goes out to their bereaved relatives. “It gives mo very great pleasure to congratulate our caretaker (Mr Attick) on tho excellent manner in which he has kept our tracks; they have been perfect for all race meetings and the compliments naid to them by visiting owners and trainers should give him great satisfaction. I have also to thank our head gardener (Mr W. Stevens) for his work in connection with making the course one of the most attractive in the Dominion; its beauty is generally admired by our patrons and is most pleasing to all. I would also like to mention the splendid work done by Miss Buchanan, our secretary; the smooth running of the office and our various meetings gives her great credit; and also to thank the remainder of our staff for the conscientious manner in which they have carried out their respective duties. “In conclusion, I have to thank my fellow stewards for their great assistance and co-operation in all matters during the season, and trust that the coming year will be as profitable to the club and as enjoyable to the members as the last one has been.” TREASURER’S REPORT,.

In seconding the adoption of the report and balance-sheet, the honorary treasurer, Mr G. O. Keeble, said that the club made a working profit of £4405 17s 6d, which was an improvement on last year’s figures of £2938 Os 4d; this notwithstanding the fact that stakes had Jjeen increased by £1.785. ~ “You will remember,” he added, “that last year we had to face storm damage of over £3500, which left us at June 30, 1936, with an overdraft of £1414 5s 8d and unpaid liabilities of £1465 14s lid. We now end up this year with a credit balance in the bank of £577 16s after having paid off the sundry liabilities and spending over £550 on improving the main stand. “Briefly, the year’s working has had the following results: We have paid off our overdraft, £1414 5s 8d; we have reduced our sundry liabilities by £l4lß 13s lOd; we have spent on the main stand and totalisator house £620 6s 9d; we have spent on additions to totalisator machine £310; wo have increased our sundry assets by £64 15s 3d; our credit balance at the bank is £577 16s; profit for year, £4405 17s 6d.

“Yon will notice that the balancesheet shows a generous writing down of the assets of the club. We still owe £18,500 in debentures which mature in June of next year. The committee is already considering making fresh arrangements for financing this debt. We feel that the present good rimes will not always be with us, and it will be the committee’s endeavour to reduce our liabilities and consolidate our position. Notwithstanding the fact that we increased our stakes by £1785 during the year, wo hope to still fur-

tlier increase them during the coming year.”

Mr Keeble concluded by congratulating the secretary, Miss Buchanan, on tho manner in which the books and records of the club had been kept. ELECTION OF OFFICERS. Only the required number of nominations were received for the various vacancies, and the following were declared elected:—President, Mr C. Louisson; vice-presidents, Messrs L. 11. Collinson and B. J. Jacobs; hon. treasurer, Mr G. C. Keeble; members of committee, Messrs L. M. Abraham, IT. R. Cooper, J. A. Nash, and G. E. Trevor. „ In commending the services of M: Louisson, Mr L. H. Collinson said th club was extremely fortunately i having such an able leader and on who gave so much time to the club interests. “He is indeed the right nw in tho right place,” added the speal er, amid applause. In returning thanks, the preside remarked that the fact that no 13; lot was necessary could be taken an indication of the confidence t members had in the administration < the club’s affairs. No special croc , was duo to him, he added; it was case of sound team-work. Mr C. D. Fraser was re-appointe auditor. APPRECIATION. It was decided to place o record appreciation of the ■ cour tesy of the police in assisting in tho parking arrangements at th autumn meeting. Mr B. J. Jacobs who moved tho resolution, said tha. Inspector Cummings and his men hai rendered splendid service cheerfully. Special votes of thanks were alsc passed to the treasurer, who “kept ai. eagle eye on the purse-strings”; tc Mr G. E. Trevor for advice freely given in connection with building operations; to the staff and to the Press.