Figures Of The Latonia Deficit., Daily Racing Form, 1908-07-12


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FIGURES OF THE LATONIA DEFICIT Cincinnati O July 11 Much has been said and written and quite a number of doubting ones have voiced their disbelief concerning losses sustained by the Latonla Jockey Club during Its last meeting Said one of the officials who was actively in charge while the track was in operation The trouble with these mathematicians Is that they only take account of the figures appearing on the surface In all their calculations they overlook the most potent expenses that contributed toward a wrong balance in the ledger The percentage money taken in from the mutuel machines and auction poolsbooth and estimated gate receipts as against purse offer ¬ ings Is their only mode of calculation Of course finding that the take Is bigger than the pay they immediately conclude that the association could not liave lost money moneyFor For their edification I will point to one minor item of expense the auction pool booth in which six men worked Its cost of operation amounted to 175 daily as follows William Fitch the chief auctioneer received 100 assistant auctioneer 35 two cashiers and two ticket writers 10 each This item would never enter into the calculation of the skeptic skepticAlthough Although figures are not readily to hand I can give a rough estimate that will not vary much from the facts end will also give an inkling of Siow the Latonla Association lost money Making due allowance for the Racing Commissions grant to re ¬ duce the daily purses to 2400 there still remains a daily average of 3200 This was the main item Other expenses itemized follow followPurses Purses 3200 3200Fixed Fixed expenses based on sixty racing days 000 000Mutuel Mutuel machine help 175 175Auction Auction pool help 175 175Expert Expert accountants and money counters 105 105Eight Eight cashiers SO SOBookkeepers Bookkeepers 40 40Ring Ring manager and assistants 100 100Officials Officials 200 200Gatemen Gatemen ticket sellers and police 200 200Total Total 4875 4875The The average dally take is readily summed up as follows Percentages from auction pools and mutuels 2000 2000Gate Gate receipts 900 900Privileges Privileges bar and minor concessions 200 200Programs Programs 100 100Total Total i 4100 4100These These figures show a net loss of 775 dally and bear out the claim that during the thirtyone days the track was in operation the management lost nearly 20000

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