STRATFORD RACING CLUB.

Taranaki Daily News, 2 September 1920, Page 7

STRATFORD RACING CLUB.

ANNUAL MEETING. The 29th annual meeting of the Stratford Racing Club was held at the Medina Tea Rooms last night, the president, Mr. A. Stewart, occupying the chair in tile presence of about 50 members. ANNUAL REPORT. The annual report was as follows: The twenty-ninth annual balance-sheet and statement of accounts discloses a most satisfactory state of. affairs, and the figures constitute new records in the history of the Club. The annual race-meeting was held on the Ist and 2nd of January last, and was the occasion of the resumption (o two days' sport. The totalisator investments were £70,496 10s, an increase of £3(>,168 10s over the previous best two days'. figures in 1917. The totalisator figures for the' past few years have been:— 1912, £18,525; 1913, £21,954; 1914, £30,525; 1915, £33,305;, 1916, £38,862; 1917, £43,328; 1918, £29,511 (one day only); 1919, £28,903 10s (one-day); 1920, £79,40G 10s. A profit of £162 10s was made by the farm committee (Messrs A. Stewart and V. Smith) nothwithstanding that adverse conditions obtained in the stock markets for a lengthy period. The whole of the Club's property ie, owing largely to the energy and ability of the caretaker, in very good order and' condition, but no new works of any importance have been put in hand. The racemeeting account discloses a record nett profit of £3867 7s sd, which has been instrumental in reducing the bank overdraft at the beginning of the year of £3021 Is 5d down to £343 3s 6d, besides paying for the whole expenditure of the Club for the past twelve months. A deputation was again sent to Wellington to wait on the Racing Conference and the Minister of Internal Affairs with reference to an additional totalisator permit. Though no immediate benefit was obtained, owing to the fact that there are at present no unallotted yet both the dales committee of the conference and the Minister were sympathetic with the club's application and position, and your committee feels confident that if permits are made available, either by legislation or re-distribution, this club's claims will be very favorably considered by the authorities. The matter must, however, be kept under their notice. Pursuant to the resolution carried at the last annual general meeting, the committee went very thoroughly into the various improvement schemes and methods of financing same, and several special meetings of the club were held to discuss and deal with these matters. It was finally decided by the members that the extensive scheme of improvements known as "Hill's scheme" should be adopted and undertaken, and that, to enable this scheme to be carried out, financial arrangements to raise a loan of £15,000 from the club's bankers should be put in hand. This was duly done, and 24 members of the club, who had signified their willingness to guarantee this sum, were duly approved of by the bank, and they have now all signed the guarantee, and the money is available. Alterations were necessary to the club's rules to give these gentlemen representation on the committee, and this matter has also been duly completed. The president, in moving the adoption of the report and balance-sheet, said he considered that the members had every reason to be satisfied with: what the office-bearers had done in the interests of the club. The huge turnover on the totalisator of the last race meetings and the splendid meeting which had been held pointed to the fact that Stratford was a great racing centre. The Metropolitan Club (New Plymouth) and the Hawera Club each had four days' racing in each year, yet the Stratford Club could well bear comparison with them in regard to totalisator revenue, while as regards stakes Stratford was infinitely better than either. He felt sure all would agree with him in saying that if there was any chance of further totalisator permits being granted" Stratford should receive every consideration. No stone had been left unturned by the outgoing committee in endeavoring to secure an extra permit, and he was very hopeful that it would be granted very soon. He was pleased to be able to say that the club had secured sufficient guarantors to enable it to carry out its new scheme of improvements, costing £15,000. The working of the club and the accommodation at present was not, however, to be despised, many bigger clubs not -being as fortunate as regards their facilities. If there was any chance of further permits being granted he felt certain Stratford would receive consideration. Mr. A. W. Bridge, in seconding the motion, said he did not think there eonld be one dissentient voice when he said that the members had nothing lo oavil at. and there was nothing but, praise due fdr-the successful working of the club during the year. Tn rcplyUo Mr. D. J. Malone, the secretary (Mr. A. Coleman) stated that the costs iii connection with Hill's scheme of improvement-!: were paid in a previous year, v Of Sladden and Maimer's casts £SO had been paid on account ami lie <lid not know what the total account would be. ELECTION OP OFFICERS. The chairman stated that the guarantors had been allotted six seats on the committee. The secretary reported that Mr. S. Pitt's nomination was the only one for the position of piv-i----dent; Mr. M. McDonald for the positionof vice-president, and Mr. A. Stewart for the position of members' representative on the committee. These gentlemen would therefore be declared duly elected. Mr. Pitt thanked the members for electing him to the position of president of the club, and he assured them of his intention to do his utmost to further the interests of the club. After referring to the success which had been achieved during he past year he assured the members tbft the future policy of the club would be to increase the stakes and endeavor to keep down the entrance fees. Although holding/their meetings at New Year prevented them from getting the best .class of horses, he believed that it would not be advisable to change the dates owing to advantages obtained in other directions. The expenditure of the £15,000 on improvements could not be spent in one year, but would probably be spread over a period of four or five years, and at next meeting, patrons would have to put up with a little inconvenience—for the last time, he hoped. Mr. Pitt expressed himself as being very hopeful that Stratford would get two extra permits, enabling them to have four days' racing instead of two. Mr. McDonald also returned thanks for hU elaotioa to the position of vies-

[ president, and Mr, Stewart also expressed his thanks for being elected members' representative on the committee. Mr. T. H. Penn was re-elected auditor. " GENERAL. On the motion of Mr.' H. E. Abraham it was resolved that it be an instruction to the incoming committee that the report and balance-sheet be posted to members a fortnight before the date of the annual meeting. Votes of thanks were accorded the outgoing committee; the club's representatives on the District Committee; to the district representatives on the Racing Conference; to Mr. J. R. L. Stanford as honorary judge, and to the Press.