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CONDITION OF FRENCH RACING FUNDS The Journal Officiel dated August 8 contains the answer to the question of M Barthe respecting the financial position of the different race societies anl the reserves they held at the end of the fi ¬ nancial year on December 31 1913 These reserves are built up by the gate money and a certain pro ¬ portion of the balance remaining from the percent ¬ age of the income derived from the mutuels and form a fund for the encouragement of sport in a country where owners are not racing for their own money and where entries paid to qualify never ex ¬ ceed 5 per cent of the added money the reward for the winner At the commencement of 1914 the So eiete dEncouragement held in hand in round fig ¬ ures a balance of 1185910 with a further sum derived from the mutuels or in all 187833 as the basis of future budgets The reserves of the old suburbans reconstituted under the title Societe Sportive dEncouragement are put down at 13S7710 due to a larger demand on the profits for laying out the new course at La Courneuve des ¬ tined to replace the old fixture at SaintOuen The budget of the useful society known as the So ¬ ciete de Sport do France at Le Tremblay and de ¬ prived of any Sunday gathering during the season and hampered possibly by initial expenses in the foundation declares as reserves in hand a frac ¬ tion over 80000 These reserves during the long period of hostilities jliave been reduced by half owing to the depreciation of the value of every security the contributions patriotically and gener ¬ ously offered to the upkeep of hospitals and charit ¬ able institutions necessitated by the war Paris Letter to London Sportsman
