MANAWATU RACING CLUB.

Manawatu Standard, Volume IV, Issue 47, 24 January 1884, Page 2

MANAWATU RACING CLUB.

Annual Meeting.

The annual general meeting of tlie aljove Club was held last evening m the Commercial Hotel at 8 o'clock. There were about 20 members present, Mr If. Jenssen occupied the chair and opened the proceedings by reading the advertisement convening the meeting. The Se oretavy (Mr Walton) the read the following REPORT. Tour Committee have much pleasure m submitting to your consideration the following report of their proceedings for the past year, together with balance sheet giving a detailed statement of all receipts and expenditure, m connection with Race Meeting held on the 26th of December. Notwithstanding the unfavorable state of the weather prior and up to the day of meeting, the members will have the satisfaction of knowing that financially, the me>*tin,g was more than ordinarily successful, and the greatest satisfaction was evinced by horse-owners, the public and all concerned iv the proceedings, as a proof of which not one protest was lodged, or dispute to be adjusted. The receipts from all sources m connection with this meeting ain.QU.nls, to £736 48 6d, ah«l th,e tota.l expenditure exclusive of paym^Nts m connection with meeting of 18§2, d§93 l%* U and £IQQ advanced to Mr Pavks, represents the sum of £787 8s Bd, and made up as follows ;— £. s. d. Payments of Stakes 470 0 0 Working Expenses, advertising, &c, 139 16 0 Improvemen.tsonoourso ... 127 7 8 Total ... ... 737 3 8 The expenditure of the sum ot £127 7a 8d may be taken m the light of an asset, as the greater portion of it was expended m rooting grand stand, erecting stewards' and jockeys' stand*?, and neceisaiy improvements on the course;

die expenditure may also be looked upon as reproductive, inasmuch as the comfort of the public has been taken into consideration, resulting m a liberal patronage, as evinced by the number m attendance, and the successful result obtained by those who purchased the privileges. Before disposing of the question of expenditure, we may state that the bulk of the improvements may be classed as permanent, and unlikely to require further expenditure for some time. The only outlay nece&sary will- be thelaying off of a training course, the want of which during the past season, has beeji a source of annoyance, aftd draw-back to trainers of district horses, as the course had to be closed for a time, whilst undergoing certain inn* provements preparatory to the meeting* With reference to receipts, the pri^yileges this year exceeded those of last by about £20, returus from totalizator, ,L 29, m excess of last year. Nominations and acceptance are not represented by as' large a sum as last by about L4o' this being accounted for by the fact of. no qualification fee being made, which was included m last year's returns, together -with protest fees, and although . the nominations were m excess of last year, jt . the acceptances wore small, especially m the dack and Consolation Races. The last item of receipt to which we would refer, is subscription. There has been a slight falling off m this receipt of about £7 from last year, although the number of members are more. We can account for this, by the fact that donations have fallen off, and jthe; hotelkeepers have not come to the fore as m past years, the total receipts from the latter representing the sum of £1 2a, against some £30 or more on previous occasions, £5 of the £7 2s being paid by one proprietor. We regret exceedingly the lack of interest evinced by the latter, as the success of the Club, is a matter of great consideration to them. In concluding our report, we trust the members will feel perfectly satisfied with the progress made, and the financial position of the Club. ; ;j Tne first, repayment of a portion of tlie guaranteed overdraft of £400 is to 4>e made by the Borough Couacil almost i immediately, vand a ; large, and further reduction m the forthcoming year. The gentlemen who have kindly guarantSetl ttie overdraft *rili he almost immediately relieved of a portion of the responsibility, and we trust m. the : course of 2 years fully released. The position of the Club will therefore be greatly improved, m the saving of L4O per annum on account of interest and a refund from the Borough Council of all the interest paid during the existence of the overdraft. The prevent year we commence with ■ a balance of L2O 6s lid m hand, audj outstanding amounts to receive 1*9,1 making a total of L 29 6s lid, inde-i pendeul of the £100 at present lent oni mortgage. Total a-saets £131 6s lid. * 'Thos. Robt. Walton, , Secretary. . ; Palnterston North, ■ }f ' ' ! '-~' (J i January 23rd, 1884. •■->: [