The annual meeting of the Limerick Race Company was held yesterday at the company’s offices located at 48 George Street, Limerick. The meeting was presided over by Mr J. O’G. Deolmege, DAL, and was attended by a large number of directors and shareholders. The company’s Secretary, Mr M. J. Kenny, presented the annual report, which included the following key points:
The directors are pleased to present an abstract of accounts and the auditor’s report for the year ending January 31, 1904. They are delighted to report a substantial balance to the credit of the company. Unfortunately, since the last meeting, the company experienced significant damage to two stands and fixtures due to a storm in February. The cost of repairing this damage amounted to £4,510. However, the directors were able to charge the entire expenditure to the current year’s revenue account. Despite this setback, the company remains in a strong financial position with a credit balance of £392,125 9d in our bank account.
In the previous report, the directors recommended a reduction of the amount owed to our bankers on the purchase account by £206. However, due to the loss incurred, this recommendation could not be implemented. In light of the company’s financial position, the directors feel justified in proposing a dividend at the rate of 10 per cent for the year, free of income tax, which will amount to £300. The remaining balance will be carried forward.
Limerick Race Company Upcoming Event
The Limerick Race Company’s next event, the SRR, will take place at Castierea and conclude on the upcoming Saturday. The event is expected to attract a significant number of competitors from various Western counties. While participants from parish schools in Insh, where the event has been organized for the past two years, are likely to dominate, the syllabus includes several events that should entice competitors from other areas as well. As Feis Day is a public holiday, there is no reason why competitors should not make their way to Castierea from different regions.
Dublin Evening Telegraph – Tuesday 01 March 1904
