MEETING OF COMBINED BODIES AT LEVIN.

Otaki Mail, Volume 26, 22 August 1919, Page 3

MEETING OF COMBINED BODIES AT LEVIN.

j ♦ i A meeting of members of the Horojj whenua A. and P. Association, Horoj whenua Racing Club, and debenturej holders intcstcd in the acquirement of i the present Levin racecourse and show 'grounds, was held at the Druids' Hall, ■i Levin, on Wednesday, when some 1 twenty odd persons were present, i Mr B. R. Gurdoncr was voted to, the (chair, and explained -that the obj jeet of the meeting was to elect i trustees for the purpose, of control- | lifig their interests in the property should it be purchased. He -pointed out that this referred to debentureholders, and that there was no need to ' appoint trustees on behalf of the Rac!iug Club and A. and P. Society, but Ithat trustees must be elected for the ! debenture-holders to conserve the injtercst of such. He was pleased to say j difficulties that had arisen had been ; wiped away, and added that debentureI holders should have no cause for regret, j The mortgage would be held in trust by 'the trustees of the debenture-holders, [ and the committee had made a term of j seven years when debentures would be redeemed. The sum of £-1500 had been I arranged for the purchase of the property, if paid by a certain time, after | which the purchase price would be £4BOO. He thought it. advisable to save I the odd £3OO, and again.emphasised the j fact that this was a real good investment, independent of assisting a very I worthy object. Mr Gardener, stated ' that the A. and P. Society desired i ground on which to erect permanent yards ami buildings, but this was a 'matter that would have to bo agreed upon. If the Racing Club went out of existence at any time provision would have to be made for the grounds to fall | into the hands of the Association, and t,4ius save trouble' in the future. The | latter body would be enabled to claim i a certain amount of the property and sel> a portion to wipe off liabilities, if it so desired. The agreement which had been drawn up was equitable and for (lie welfare of both bodies, and he regretted ho did not have £IOOO or so to put. in the investment. He had no doubt that it would be most profitable, [ and considered no investor would have j regrets. The grounds, he said, would he governed by both bodies. Mr Gardener stated also that already some 500 debentures had been issued, totalling £2500, and that if the full number were not taken up the purchase would fall | through. He then suggested that a secretary be appointed. Mr G. Tully pointed out; that Mr Walter Bull had been asked to take on the secretarial duties, but had de- J clincd on account of pressure of busi- j ness. After brief discussion Mr Fred Nicholson agreed to accept pro tern. Mr Tully proposed that Messrs Gardener and Nicholson be the trustees, and in doing so referred to both as being energetic men who were conversant with all matters appertaining to the welfare of the move. Seconded by Mr W. G. Vickcrs and

carried. j Mr Gardener said he recognised the j position was a very important one, and ( although he did not seek it he would do I his best, and expressed a hope that everything would prove successful. At this stage Mr J. Kcbbcll thought it advisable to have three trustees, and after discussion Mr Tully was also appointed a trustee. Mr W. Hughes asked, in the event of there being insufficient money to carry out the purchase, would there lie a chance of getting an extension of time. Mr Gardener said he predicted no trouble in the matter. Mr Tully, amidst applause, stated the position was now much better than when they entered the room, Mr Kcbbcll having signed as being agreeable to take up ISO debentures. After votes of thanks had been . passed to Mir Nicholson for services ren- I dered and Mr Gardener for acting as J chairman the meeting closed. 1