SUCCESSFUL YEAR

Wairarapa Times-Age, 26 August 1938, Page 7

SUCCESSFUL YEAR

OPERATIONS OF WAIRARAPA RACING CLUB HEAVY BURDEN OF TAXATION. NEED FOR CONSERVING FINANCES. (“Times-Age” Special.) General satisfaction with the results of the year’s operations was expressed by members at yesterday’s annual meeting of the Wairarapa Racing Club. Several members, however, sounded a note of warning regarding excessive expenditure during the coming year and Mr J. W. Card hinted at a possible increase in racing taxation and pointed to the declining totalisator returns. There was a large attendance. Speaking to the annual report, previously published, and the balance sheet, the president, Mr Q. Donald, said there was every reason for members to be satisfied with the outcome of the past year. Had it not been for the wet weather at Easter they would have had a record meeting. The year’s operations showed a profit of £698 16s sd, after writing off £1,106 17s for depreciation. The sum of £1,120 17s 7d was spent on buildings and improvements, the mam items being for improvements to the publican’s booth, a ladies’ bar, new horse yards and new groynes (£lll 17s 3d). Improvements had also been made to the totalisator house, the ladies’ cloak room and the footpaths in the lawn enclosure had been kerbed. All that had been very necessary work. Stakes last year, Mr. Donald continued, were increased by £495, while the totalisator investments decreased by £3,669 10s as compared with the previous year. Taxation paid by the club totalled £6.445 7s sd, made up as follows: Totalisator £2,905 19s 3d, dividend £3,177 14s, stakes £65 10s, amusement £296 4s 3d. A refund of £5OO had been obtained on account of improvements effected. The club was still endeavouring to build up a reserve fund and he considered that that policy should be maintained until such time as the club was in a position to embark on an extensive building campaign. The present time was far from opportune for such a move. The club’s fair treatment of trainers and owners should be continued. It was wonderful how the owners and trainers had stuck to the club last year and if only they had had good weather at Easter it would have been a record year. Mr Card said he was perfectly satisfied with the progress made by the club during the year and with the present state of the balance sheet. Prospects for the coming year were still good, but at the same time caution would have to be exercised when allotting the stakes and in carrying out further repairs and maintenance at the course. There were indications, he added, that totalisator returns had reached their peak. Since, the opening of the new racing season most of the totalisator returns had shown decreases in spite of large attendances. Apparently the money was not there, or if it was, it was mot for circulation as in the past. The Stewards should regard the drops in returns as a warning. At present, the Wairarapa stake money was very good. Practically all racing clubs were taking up the question of the heavy burden of racing taxation. It was no use, however, to holding out any hopes or expectations of a decrease in taxation in the near future. Rather, an increase might be anticipated. At the last meeting of the Racing Conference the question of complimentary tickets had been discussed. Delegates were unanimous that something would have to be done to overcome the difficulties and handicaps that were growing out of the issue of complimentary tickets. It was stated that the Government had not passed unnoticed the large number of complimenary tickets issued and it would occasion no great surprise if a tax were imposed on complimentary tickets. That would be a good thing and would relieve the clubs of some of the heavy burden imposed as the re-< suit of the large issue of complimentary tickets. Mr Card commended the policy of the club in building up a good reserve fund. The present time was too risky to contemplate a big building campaign. Money was cheap but costs were too high. Mr H. Lawson congratulated the club on the successful outcome of the year’s working and said that the financial position was even better than the balance sheet disclosed. In view of the weather experienced, Mr J. F. Thompson thought the club had enjoyed a most successful year. It was not the time to launch out on any big financial undertaking. It was necessary to take a long range view of sport today. Racing, like other forms of sport, had its keen competitors. Mr W. Howard Booth said it had been a successful year. The stake money should not be increased any further, neither was the time ripe for any reduction. Caution would have to be exercised when allowing for repairs and maintenance. One of the biggest items facing the club was the remetalling of the racecourse road. Last year £145 had been spent on it but the metal used had been a hopeless failure. On the motion of Mr A. C. Pearce rule 4 was amended as follows: “That the annual subscription be £2, reducible to 30s if paid on or before December 1 in each year; and that the entrance fee of £2 be repealed.” Mr Pearce said that the reduced subscription had resulted in an increase of 90 members in the last three years. The following officers were elected for the ensuing year:—Patron, the Hon A. D. McLeod; president, Mr Q. Donald; vice-presidents, Messrs T. Benton, J. W. Card and A. Campbell Pearce; stewards, Messrs R. N. Barton, W. Howard Booth, D. Cameron, D. C. Collins, R. A. Donald, Roy Donald, W. J. Martin, Jack Martin, C. J. Nix, A. Campbell Pearce, D. H. S. Riddiford, and J. F. Thompson; judicial committee, Messrs Q. Donald, J. W. Card, A. Campbell Pearce, D. H. S. Riddiford and C. J. Nix; judge, Mr Ulic Shannon; hon judge, Mr C. J. Nix; handicapper, Mr A. V. O’Brien; starter, Mr M. Crimmins; hon treasurer, Mr H. Lawson; auditors, Messrs G. W. Sellar and L. H. Smart; hon timekeeper, Mr D. C. Collins; clerk of scales, Mr W. C. Deller; hon surgeons, Drs G. S. Sharp, T. D. M. Stout and J. M. Coutts; hon vet surgeon, Mr S. Fletcher; secretary, Mr N. C. C. Shepherd.