Report of the Stewards, detailed statement, of working account and balance sheet for the year ending 31st December 1998.
The Stewards have pleasure in presenting the accompanying account to the Members of the Club.
Since January last jthe Members List has been added to by 67, making a total of 510, ie. 364 Voting Members and 146 Noh-Votio; Members. The total of Subscriptions: and Entrance Fees amounts to Tls. 9,040, against Tis, 7,960 last year.
'The usual Spring and Autumn Meetings were held, respectively, on the 3rd, 4th, and Sth of May, and the ist, 2nd, and 3rd of November, the Entries in both cases' being not quite so good as lat year, but the folds for most of the events were as large as on previous occasions, and the racing was good, especially at the Autumn Meeting, when there were 25 Ponies qualified for the Cham. pions, out of which 14 started.
As will be seen by the detailed Working Account there is a profit on the sear's work. ing of Tls. 4,707.49, after paying a loss of Tis, 9,357.97 caused by the absconding of the Club's Shroff. The debit balance with the Hongkong and Shanghai Bank on Ist, January 1998, amounting to Tls. 4,652.78, has been repaid, and the Club now has a credit balance with the Bank of Tls. 1,272.05, which shows that the financial condition of the Club ix most satisfactory.
In May last the Stewards leased, on behalf of the Club, from Mr. Morriss, the houses Nos. 4 and 5, Mohawk Road, at o monthly rental of Tls. 150 each. This wa done a8 Mr. Morriss contemplated adding a wing to the house adjoining the Club's Com-From the Grand Stand.
ind which would have shut out the view Chairman, Shanghai, 11th January 1899.
Text read from the printed page and cleaned; old type leaves the occasional error.