LEVIN RACING CLUB'S YEAR.

Shannon News, 11 June 1929, Page 4

LEVIN RACING CLUB'S YEAR.

RESULTS GRATIFYING IN VIEW OF GENERAL CONDITIONS.

MR F. DAVIES OFFERS TROPHY FOR LEVIN HANDICAP.

The annual meeting of the Levin Racing Club, held on Thursday evening, May 30th, in. the Druids’ Hall, was attended by a comparatively small number of members. The President, Mr T'lios. Bevan, was in the chair.

ANNUAL REPORT,

In submitting the animal report and balance sheet, the President again congratulated members and officials upon a very satisfactory year’s work. The report proceeded: ‘‘Although receipts show a falling off from last year, due mainly to decreased totalisator revenue, and on the other hand stakes being increased by £l5O, the nett result shown is only £B4 less than 1928,. which must be considered very gratifying. ‘ ‘ Considerable improvements were effected during the year, a total in all of £575 being expended in this direction. The stewards’ stand wa3 entirely i’e-modelled and enlarged, while a large addition was made to the refreshment space, and thi3 department is now complete with large double-sided'oven, hot and cold water connection, sinks and drainage. ‘‘The Finance Committee also spent £135 on improvements, having the trees along the Mako Mako Road topped and a new corrugated iron fence erected, replacing the old board one which had fallen into disrepair, and the, improvement here is most noticeable and greatly appreciated. Also the cottage atflie training stables was improved by installing drainage and a new iron fence, etc. ‘‘Outstanding members’ subscriptions is a considerable item, some 43 members being in arrears, with a total amount outstanding of £54 12s, and while this is not shown in the balance sheet, the collection of same is earnestly desired.

‘‘Nominations for the various offices resulted, in all instances, in just the required numbers, so that a ballot is not necessary.

‘‘lt is with deep regret that I have to record quite recently the death of one of our oldest life members—Winiata Pataka. ‘‘ln conclusion I wish to thank -stewards and officials for courtesy and co-operation extended during my term as President, and wish the club continued -success.” FINANCIAL POSITION. '

The balance sheet of the Club’s revenue account for the year ended March 31st showed that the receipts amounted to £2308 6s Id, made up as follows: —Totalisator revenue £IO9B Os 6d; gates £321 7s, privileges £143 0s 7d —£464 7s 7d; nominations and acceptances,- £366 0s Od; members’ sub scriptions, £165 16s 6d; totalisator tax rebate, £203 6s 6d; hire club looseboxes, £lO 15s. The expenditure totalled £2190 3s 9d, leaving a balance of £llß 2s 4d to accumulated funds. The principal outgoings were: Stakes, £1160; taxes, £22 6s 9d; general expenses, £lsl 14s sd; catering, £72 6s; wages, race day, £49 7s 6d; levies and affiliation fees, £32 0s 3d; officials’ salaries, £164 2s; rent, £225; repairs and maintenance, £43 10s 6d; advertising- and stationery, £137 15s; depreciation written off buildings and plant accounts, £lO2. The assets were shown as £2983 19s 9d, made up of plant account £l3O, builidingis account £2820 9« 9d, and sundry debtors £33 10s. The statement of liabilities was as follows:—Dr. balance at Bank of Australasia £3l 12s Id, unpresented cheque £5 19s —£37 2s Id; suspense account, £202 17s 6d; accumulated funds at March 31st, 1928, £2625 17s lOd, balance revenue account, March 31st 1929, £llß 2s 4d—£2744 0s 2d. In balance sheet of the Racing Club and R. and P. Association Finance Committee,' the receipts were shown to be £417 10s and the expenditure £447 14s 3d, leaving a debit to the capital account of £3O 4s 3d. The receipts comprised the Racing Club’s rent £225, the A. and P. Association’s rent £75, and other rents £ll7 10s. On the expenditure side the principal items were: Repairs and maintenance £176 Is, rates and insurance £BS Is 3d, and interest on contributory mortgages £l5O. The assets totalled £4777 0s 3d. consisting- of land and buildings, £4030, and credit balance at the Bank of Australasia, £147 Os 3d. The liabilities were set down as follows: Debentures, 900 at £5, £4500 —less redeemed, 893 at £5, £4465 —£35; c.onIributory mortgage, £2500; interest due to debenture holders, £7 Ss; capital account, March 31st 1928, £2264 16s 6d; balance revenue account, March 31st, 1929, £3O 4 S 3d—£2234 12s 3d.

Mr C. Blenlchorn, one of the vicepresidents, made a comparison between the financial statement of the past year and that of the preceding year. He pointed out that the decrease in the profit was largely due to a diminution of the totalisator receipts, the total having fallen from £19,112 to £16,266—a difference of £2846, accounting for a difference in revenue to the Club of over £2OO. The gate takings had also shown a falling-off, to the extent of £9O. Generally speaking, most other clubs had also experienced a decline in their totalisator returns, in the period under review. The report and balance-sheet were adopted, on the motion of the President, seconded by Mr W. Bull. ELECTION OF OFFICERS. Officers for the ensuing year were elected without a ballot, as follows, all being re-elected, except that, amongst the "stewards, Mr S. J. Silvers replaced Mr P. 11. Harper, who has left the district: — Patrons —Messrs J. Linklater and W. 11. Field, M’s.P. President. —Mr Tlios. Bevan. Vice-Presidents —Messrs C. Blenkhorn, W. Higgins, T. Hobson, R. T.

McDonald, F. F. Newman, and J. Ev dor.

Stewards —Messrs W. Bull, B. V. Brown, F. Davies, W. C. liannan, 11. McMillan, J. W. Procter, L. • G. McDonald, E. M.' Ryder, S. J. Sievers, W. G. Vickers, W. Evder and M. Winiata. •

Hon. surgeons—Brs L. J. Hunter and S. J. Thompson.

Auditor —Mr P. L. Sim. , TROPHY TO ACCOMPANY LEVIN CUP. ,

Mr Fred Davies offered to supplement the Levin Handicap Cup this year with a silver coffee service; an 6 lie was accorded a very hearty vote ot thanks for his generous action. COMPLIMENTARY. Before declaring the meeting closed, the President thanked the member; sincerely for having re-elected him, and expressed his gratitude for the services rendered by the stewards, without whose willing efforts he would not have been able to carry on the affairs of the club so successfully.