REDUCED STAKES

Sun (Auckland), Volume IV, Issue 1060, 26 August 1930, Page 12

REDUCED STAKES

MANAWATU’S DECISION From Our Own Correspondent PALMERSTON N., Monday. The annual meeting of the Manawatu Racing Club was held this evenMr. C. Louisson was re-elected president for the seventh successive term. Reviewing the activities of the year, the president commented that the season’s operations had ended with a healthy credit. Compared with the previous year, the totalisator turnover had shown an increase of £17,093, while the gate receipts had also shown a satisfactory increase. However, the future was not viewed with the same optimism, and the proposed taxation on racing was causing concern. “It is considered inequitable,” added the speaker, "that while many clubs are making a heavy loss on a meeting, the Government is making substantial profit over the same meeting. A more equitable way of increasing taxation would be for the Government to concentrate on the passing of the Gaming Bill now before the House.” A reduction in stakes, owing to the uncertainty of the financial position of the country, has been decided by the committee.' The amount of the stakes at the summer meeting is to be reduced by £7OO. The programme even as reduced is a very attractive one, and the stakes for the season amount lo considerably more than the club is obliged to give under the rules of racing.