SUCCESSFUL SEASON

Waikato Times, Volume 121, Issue 20278, 21 August 1937, Page 11

SUCCESSFUL SEASON

WAIKATO CLUB’S YEAR. A PROFIT OF OVER £3OOO. LARGE STAKES DISTRIBUTION A profit of over £3OOO is disclosed in the annual report and balance sheet of the Waikato Racing Club for the season 193637. The season has proved the most successful in recent years and there can be no doubt that the existing buoyant state of the sport will enable the club to proceed with every confidence in its progressive policy of endeavouring to establish Te Rapa as the leading provincial course of the Dominion.

After providing for adequate depreciation on buildings and plant, and spending a large sum in repairs and maintenance to ensure racing facilities being in good order, the actual amount transferred to the credit of the Accumulated Fund Account is £3005 4s 4d.

Stakes distributed during the racing year ran into £12,400 compared with £9IOO the previous season, an increase of £3300. It is interesting to note that the Government’s share of the club’s successful year’s operations runs into £17,947 15s, an increase on the previous year of £6268 17s 2d, and £5547 16s in excess of the amount paid in stakes. The main items of expenditure are: General expenses, £1385 11s 8d; rates and taxes, £348 18s 7d; interest, £lll4 8s lid; repairs and maintenance, £1752 os lOd; and course upkeep, £1531 6s Id. Totalisator receipts are shown at £34,477 2s 3d, nomination and acceptance fees £2831 3s, gates and privileges £4608 3s, and the sale of racecards £972 0s 7d. Assets are estimated at £34,997 16s 9d. New Stand ConstructedBefore the spring meeting a new members’ stand was erected and it was found necessary to make additions to it which were completed for the summer meeting. Regret is recorded in the annual report of the deaths of Dr. H. M. Prims and Mr S. V. Tyler. Mr Tyler was a member of the committee from 1926 and at the time of his death he held the office of treasurer. He was a most energetic worker in the interests of the club. The thanks of the club are extended to honorary officials and permanent staff for the efficient manner in which they fulfilled their duties during the season. The following have been proposed for office and as the number nominated do not exceed the number required a ballot will not be necessary: President, Mr F. R. Seddon; vicepresident, Mr A. Miller; committee, Messrs. P. If. Clarkin, T. Clarkin, A. E. Manning, J. C. Potts, R. T. Reid and H. Rothery.