SPORTING.

Taranaki Daily News, 25 August 1922, Page 3

SPORTING.

STfIATFORD RACING CLUB THE ANNUAL REPORT. The annual report of the Stratford Racing Club states: “In spite of the financial stringency, and consequent diminished totalisator revenue, gate receipts and proceeds of sales of correct cards, the committee have come through the year’s operations with the small loss of £99 9s 4d. The race-meeting account shows a net profit of £l5ll 18s 9d, and the farm account a net profit of £3O 2s 2d. In view of the unparalleled drop in prices of stock in the early portion of the year, the credit balance In the farm account is very satisfactory: The sum of £449 3s has been written off the premises account for depreciation, whilst the sum of £4387 has been paid to the Government in the various forms of taxation. The amount has proved a serious drain on the club’s finances, and you will note that it is equal to one-half the gross revenue from the totalisator commissions. The present scale of Government taxation will prove a very serious handicap in carrying out Improvement schemes for the club in the future, unless a very considerable reduction in taxation is obtained. If the scale of taxation is not reduced, clubs similarly situated to our own, with only one annual permit, will find It very hard to continue giving such good stakes to owners as our club has done in the past. At the last race-meeting £4097 was given in stakes, and the meeting was most successful from every point of view, in spite of the slump, and the thanks of the committee are due to all the stewards for their excellent work. All new formation work in connection with the course improvement scheme has been deferred temporarily, but permanent additions have been made.’’