Victoria Financial Picture

Tyees’ Prexy Report Expresses Optimism
[Victoria Colonist, Feb. 13, 1953]
The annual meeting of the Victoria Baseball and Athletic Company Limited will be held Monday, February 23, in the Brittania Branch auditorium on Blanshard Street at 8 p.m.
The agenda includes receiving of the annual report of the directors, the financial statement and the auditor’s report for the year ending October 21, 1952. The election of directors and appointment of auditors will take place and other business will be transacted.
The report of president Arthur Cox released yesterday follows:”…We suffere a loss inoperation of $17,714.44 last season as against a loss in 1951 of $33,403.53. Our attendance was steadily growing, until, unfortunately, we had strikes and bad weather. Otherwise, I feel our attendance would have reached 125,000, which seems to be necessary in order to break even or show a small profit.
“Our liabilities were reduced by $8,564.64, and our accounts payable were reduced from $31,438.56 to $19,926.83, which includes the amount of $7.660.85 owing the City of Victoria. Arrangements have been made to pay this year’s rent by assignment of $4,000 of our receipts from concessions and advertising. Arrangements have also been made with the city to accept a note as an acknowledgement of the amount of arrears owing, this note to be reduce as we are in a financial position to do so. The financial statememt will be ready and presented to the meeting.
“We again have been able to arrange a partial working arrangement with the Portland baseball club, whereby we receive their surplus players, which is a great salary saving to our club, as they pay the greater portion of the players’ salary.
“We have been fortunate in again availing ourselves of the services of Garriott as playing manager. During the winter he has been doing some scouting for us, and has been successful in obtaining a number of new young players for our club.
“…Calgary and Edmonton were admitted to the league this year, and this should create a great deal of interest, and should materially increase the gate receipts. They are both good baseball cities, and we hope will have good teams in the league.
“…Since the end of the year, we have sold John Treece and Dick Bartle. Players Ben Lorino, Jim Clark, Bob Moniz and Bill Prior will be going to the spring training camp of Portland. It is possible that some of these players will be bought by the Portland club. Don Pries is going to Oakland for spring training, and there is every likelihood that he will be purchased by that club.
Any change of players has been with the consent of our manager, Cecil Garriott.
“…I feel that the 1953 season should be much better than the 1952 one. Our home gate receipts should be larger, and we should receive more from away games. Our concessions should be higher and I feel that a number of players will be sold without weakening our team.
“In my opinion, it is necessary for us to raise about $15,000 new money in order to make this operation successful. With this new capital and will the prospects of additional revenues, we should be able to show a profit at the end of the 1953 season.
“I appeal to all shareholders to assist your incoming directors in any way possible to obtain this amount.
“I wish to give special thanks to the board of directors, who so ably supported me during 1952.
“I also wish to thank business manager Reg Patterson and Cecil Garriott for their assistance and co-operation at all times; the press and radio for their splendid publicity and co-operation during the season; Mr. Frank Ireland and members of the Booster Club for their co-operation; the fans for their support, and all those who so kindly assisted us during 1952.”