THE POYERTY BAY TURF CLUB.

Gisborne Times, Volume XXVI, Issue 2216, 13 June 1908, Page 2

THE POYERTY BAY TURF CLUB.

ANNUAL MEETING

The annual meeting of the Poverty Bay Turf Club was held in tlhe Club rooms yesterday afternoon. Mr. J. AV. Nolan (President) occupied the chair, and there was a large attendance.

The Secretary (Air. D. R. DeCosta) read the following report and balance sheet:—

“In placing before you -the report and balance-sheet for the year ending 31st. May, 1908, your Committee again desire to congratulate the Club oil its success from a racing -point of view, -and also on tlie financial- position. During -the year a caretakers’ cottage has been erected on the Club’s grounds, and a cmisidera-blo amount of fencing lias -been renewed and repaired, as 'well- as the planting of -ornamental trees and hedges. The -improvements include the laying on of water from the town supply, the aim or the Committee during the year being to make the grounds and -appointments as complete as possible. Further improvements, such as tlie erection of an outside stand, etc., ia-re required, and will -no doubt be attended t-o by the incoming Committee. The sum of £237 il9s 9d has been written- off improvement account, and £ls 7s 3d off furniture and plant account. After deducting these writings-off, -the net profit for the year amounts fb £1415 10s sd. The overdraft this time last year was £3245 12& 3d, and at date is £2247 Is sd, having been reduced by £998 10s lOd during the year. The following -gentlemen retire by rotation, but are eligible for re-election: Messrs Kennedy, White, and Dr. Morrison. The thanks of the Club are due to the following gentlemen : Messrs A. F. Kennedy and F. Parker (auditors), -Mr., L. T. Byrnes (lion, treas.), and Mr. It. Tlielwatl ‘(dei'k of course).” The bal-ance-sheet was: Liabilities: Union Bank £2247 Is sd, capital £3605 2s 9d, sundry creditors £l3 3s, profitand _lo s s £1415 10s sd; total £7360 17s 7d. Assets improvements £4oU’J, property purchase £2849 7s 3d, furniture £IOO, sundry debtors £llO 5s 4d, cash in hand £1 ss; total £7360 17s 7d. Loss; Wages and salaries and bonus secretary £220 4s, rent £l4 lls Bd, -rates and insurance £sl 2s Gd, -general expenses £46 10s lid, interest £lsl lls Gd, depreciation £203 7 S , repairs £2l 4s 3d, petty cash £lO 13s, balanco profit £1415 10s 5d ;total £2184 18s 3d. Profit: Subscriptions 71 members at £3 3s £223 13s, spring meeting £lO6l 3s 6d, summer £827 5 S 2d, training fees £B, rent £6l 16s 7d; total £2184 18s 3d.

The Obairm ui said tlio vear’s work had been highly satisfactory. The bank overdraft had been reduced by £IOOO, there had been good racing and the members and officers of ,tho Club had .worked well togethher. While some improvements had been carried out, lie would -like to see a stand on the outside of the course apd greater convenience provided for njembers. He moved the adoption of the report. Mr. J. M. Gouldsmith seconded the motion, which was carried. The following officers were elected • President, Mr. J. W. Nolan (re-elec-ted); Vice-President, Mr. J. ClarkeCommittee, -Messrs A. F. Keunedv’ C. White, and A. Dewing. At a meeting of the Committee, held at tlie conclusion of the general meeting, Mr. D. 11. DeCosta wa s reappointed secretary, and Messrs Kenmxly and L. B. Sherriff auditors. The other officials of last- year were re-ap-pointed. ‘