Montreal Jockey Clubs Finances., Daily Racing Form, 1910-02-08


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MONTREAL JOCKEY CLUBS FINANCES FINANCESMontreal Montreal Qu February 7 In connection with the evidence of Colin Campbell a director of the Montreal Jockey Club before the antibetting bill committee at Ottawa a wrong impression of the finances of that institution has been conveyed to he public publicIn In some printed reports of the sitting Mr amp bell was made to state that the paidup capital of tin company was 174 00 against which there was owed the sum of 140000 140000Mr Mr Campbell has since pointed out that the cost of the property and plant as it stands is 5 MC but that the company owes tlic sum of 14IOOO The paidup capital is as was stated 174000 and this together with the 140000 makes up the total of 523000 523000Mr Mr Campbell was also reported as having stated that the receipts of tin company for 1000 were 1025K out of which 05105 was paid for purses leaving a balance of 74oO which has been con ¬ st rued to represent the profits of the years oper ¬ ations Out of this amount however must be de ¬ ducted the operating expenses of two meetings the upkcep of the plant salaries and wages and interest on mortgage rent of offices etc etcThe The true position of the affairs of the company is that after three years of operation as a net result there was carried forward to the credit of profit and loss at the close of 1000 the third year the sum of GS42 no dividend being declared

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