Page:1930 QLD Royal Commission into Racing Report.djvu/48

 For some time after this sale, the Company continued to hold meetings.

These were not successful and were abandoned about 1925.

In October, 1927, a new arrangement was come to whereby one P. J. Frawley, an experienced racecourse manager, who personally bore the initial expenditure necessary for the resumption of racing, undertook to hold meetings at a remuneration of £20 per meeting, payable only out of profits. Under his management, meetings have since been held approximately monthly.

One of these meetings resulted in a loss, the others have averaged a profit of about £71 per meeting.

The meetings generally consist of five divisional events and one trot.

The present issued capital of the Company is £13,323 in £1 shares, distributed amongst twenty-eight persons.

Messrs. Austin and Jones hold between them 7,709 of these shares.

Moneys received as a result of a meeting are applied first in payment of the expenses of that meeting. Mr. Frawley renders to the Company full statements as to the result of each meeting.

These statements show that any profit, after deduction of his salary, is paid to the credit of the Company at its bank.

The Company keeps two banking accounts. One of these, in the name of "The Coorparoo Turf Club," showed an overdraft, as at 30th June, 1929, of £2,660. The other, which is in the Company's own name, showed, as at the same date, a credit of £683.

Apart from the above, no books of account dealing with the Company's racing business were produced.

The Commission did not inquire into any other business operations of the Company. The average attendance at a meeting on this course is about 300. The fees for admission are—to the Paddock—Gentlemen, 10s.; Ladies, 3s.; to the Leger, 3s.

(c) Ooodna Amateur Race Club.

This concern is not a club. It is conducted by a firm of which the registered partners are Mr. T. G. Jones and the late Mr. R. S. Hodge.

Mr. Jones holds a 213/250 share, and the Estate of Mr. Hodge the remaining 37/250.

The partnership holds a lease from the Public Curator, already dealt with.

The rent is paid by cheque signed by Mr. Lawrence, manager of Kedron Park.

Mr Jones is a son-in-law of Mr. Nathan, and conducts most of his business, in connection with the partnership, through Mr. Austin, Secretary to that gentleman.

Such meetings as are held take place on Thursdays, and are conducted by Mr. Russell, the Assistant Secretary of Kedron Park, at a fee of £5 per meeting.