INVESTOR’S MISTAKE

Taranaki Central Press, Volume IV, Issue 454, 11 June 1937, Page 2

INVESTOR’S MISTAKE

CHEQUE TO RACING CLUB

Thought Dividend Overpaid

Press Association—Copyright. Whangarei, June 10. The secretary of the Whangarei Racing Club, Mr F. L. Gunn, had a unique experience recently when he opened his mail to find a cheque for ! £5B 15s from a man who considered he had been overpaid after backing a winner at the club’s autumn meeting. “When checking my dividend on Prince Acre, which won the Stewards’ Handicap on the first day of your April meeting,” the man, a resident of Frankton, wrote, “I discovered I had been overpaid to the extent, of my cheque enclosed. I will watch the newspapers to see if any of your committeemen die of fright.” Mr Gunn immediately communicated with Blomfleld and Company, who manage the totalisator, and their reply was to the effect that the amount invested on Prince Acre and the dividends paid out to ticket-hold-ers of that horse balanced perfectly. The system adopted by the totalisator officials is considered very exact, with very little possibility of a mistake. The matter was considered by the committee of the Whangarei Racing Club this week, and the writer was informed that an, investigation had J tailed to reveal any /shortage in the I totalisator funds for the Stewards’ I Handicap. In consequence, wrote the committee, his cheque was being returned, with compliments for his honesty. The committee suggested that he must have made a mistake in his own calculations of his betting trailsections. Several members of the committee i suggested that the cheque might j eventually be acquired and framed i and retained by the Whangarei Racj ing Club.