P.B. TURF CLUB.

Gisborne Times, Volume X, Issue 930, 1 July 1903, Page 3

P.B. TURF CLUB.

ANNUAL MEETING.

A SUCCESSFUL YEAR.

At the annual meeting of the above Club, hold yesterday afternoon in the Masonic Hotol, thero were present t Messrs J. W. Nolan (President), D. J. Barry. J. Maynard, 0. White, G. B. Oman, A. Hood, ft. '3EL Mason, G. It. Wyllie, A. F. Kennedy, G.E. Eliott, L. T. Symes (Treasurer) J. Cumming (Secretary), J. A. Ciesar, J. Clark, and Currie. The following report was presented The accompanying balance sheet which is laid on the table with this report ought to fully justify your committee in again congratulating tho Club on the success of the past year’s racing. The revenue received amounted to £2321 Is Id, and the expenditure to £2338 3s 7d, including fixed deposit £250. During the paßt 12 months tho Club have made several improvements to the course, buildings, and surroundings, having spent £loolss 9d, and now everything is in first-class working order, whioh will necessitate very little expenditure for tho approaching season. Stakes were increased to tho extent of £75 16s 6d over the previous season's total, whilst nominations and acceptances were reduced 25 percent., so that in this respecthorse owners were wbli catered for, and showed this by their patronage, the result of which was large fields and good raoing for both meetings. The membership of the Club iB now 52, the largest since the inauguration, proving that the Club is a popular one. A sum of £250 has been placed on fixed deposit, and the credit balance in tho bank being £149 Os lid, together with assets amounting to £853 Is lid (no liabilities) shows conclusively that the Club is in a very sound financial position, and should the coming season be as successful as in the past the financial result of the Club will be furthor improved. The Committee desire' to tender their thanks to Mr L. T. Symes, hon. treasurer, for the efficient and capable manner in which he carried out his duties, Mossrs A. F. Kennedy and B. H. Mason, auditors, who gratuitously audited the accounts, and' to Mr G.E. Wyllie who acted as clork of scales. Mr F. S. Dosßarres, one of tho Committee, having left the district, Mr A. F. Kennody was olected to fill the vacancy. Messrs J. Maynard and R. Sherratt retire from the Committee by rotation, but are eligible for re-election.-

BALANCE SHEET. The balance-sheet showed Receip ts : Subscriptions £132 6s, Spring meeting £1039 7s 4d, Summer meeting £1127 7s 3d, general £22 0s 6d, balance in bank on 9th June, 1902 £166 3s sd. Expenditure : Spring meeting £l5O 13s lOd, Summer meeting £1024 7s, general £125 0s 3d, fixed deposit £250, annual charges £IBB 2s 6d, balance in bank on June 15, 1903 £149 0s lid. • The Chairman stated that the Glub s assets had increased by about £3OO. A good deal had been written down. The Treasurer stated that the Club was £327 better than last year. The Chairman, in moving the adoption of the report and balance-sheet, said that little comment was required. The Club was in a flourishing condition, and it remained with the members to work together, and tako interest in the Club generally to ensure success during the ensuing year. Thero was a profit of £430 on last year’s business, and on the whole of the balance-sheet there would not be more than £8 or £lO of Bad debts, which was most satisfactory, considering the amount of money passed through their hands. He had no doubt but that the Club would be equally successful in the coming year. The motion was seoonded by Jnr fitooa ■and carried.

ELECTION OF OFFICERS.

President, Mr J. W. Nolan, re-elected; Vice-President, Mr J. Clark. Stewards, Messrs Maynard and Shoratt, re-elected.

NEW MEMBERS.

The following wore eleoted as new mem-bers-.—Messrs A. Murray, F. Francis, A. H. Wallis, and W. B. Common. Mr Kennedy dealt with the balancesheet at some length, and urged members to make a careful perusal_ of it, as they could not form an idea of it by lpoking at it for a few minutes. He thought it might appear that the writings off were too heavy. The Club was acting wisely in writing down as fast as they could, as an examination of the balance-sheet would show the sound financial basis. Mr Symes pointed out that at the expiration of the lease, which would bo in about five years, they would have no right to remove the buildings, Mr Kennedy said that his remarks were to that effect, and he would like to understand how they stood. . The Chairman said they had no right to remove the improvements. The Club were writing down heavily every year, and they would have them all- written off m five years’ time. Mr Symes stated ho did not wish to see anything stauding as assets under such headings, as they would not bo assets at the expiration of the. lease. Mr White said that the assets showed the'preseDt value of the improvements. A vote of thanks to the chair terminated the meeting.

COMMITTEE,

At a subsequent meeting of the Committee Mr J. M. Cumming was re-elected secretary, and Mr L. T. Symes treasurer, Messrs A. F. Kennedy and F. Parker were elected auditors. It was decided to defer the appointment of handicapper until a meeting of the Committee to be held m a month’s time. Hr H. Piper was re-elected starter, and Captain Tucker as judge. Tne election of other officers resulted as follows :—Clerk of Scales, Mr Q. B. Wylhe ; clerk of course, Mr A. Pritchard ; totalisatOr clerk, Mr W. O. Skeet; caretaker, Mr Bobson ; ground committee, Messrs Harding, Sherratt, and White. INCBEASE OF STAKES.

>lt was decided to increase the stakes £55 over last year’s amount, leaving no race on the programme less than £2O. t

ALTEBATIONS.

Instead of tho Hack and Hunters’ Hurdles on the first day, the Committee decided to substitute a County Stakes of 25 sovs, distance 6 furlongs, and in place of the Hunters’ Flat on the second day a second County Stakes, of sovs, 1 mile, for horses in the Cook, Waiapu, and Wairoa counties.