The sun., 1902-01-14
new YORK A. C. ISFLOURISHING
ANNUAL REPORT SHOWS M
CREASED INCOME.
Complicated Financial Problems Well Han
died by Board Of Governors Sale %
Tra,crs Island Not Contemplated
--Oficers 10 lie Elected Tonight.

A. c. takes place tonight at the clubhouse,
Fifty-nnth street and Sixth avenue, and
in order that the winged foot members
should be thoroughly informed on the clubs
financial affairs the annual report OF the
Board Of Governors was circulated yes-
terday. 1t appears that the season OF 1901
has been an exceptionally prosperous one
for the New York A. c. Its net income
was increased TO the amount of s22 $50 .95
and since Jan. I. 1901. there have been
elected and qualified 1853 resident. 1ls nom
resident and twenty junior members. This
makes the total membership up to date.
1857, divided thus: honorary, 7: life, 40:
resident, 2,s02; nonresident. SIS: army
and navy, 81 junior co. The report In
part says:
The augmentation OF income In 1900 was
s257l5 81. Add 20 this amount the restau-
rant loss IN 1890 OF is.oss 81 and II n found
that the total increase OF income in two years
has been s6s.555 80. The net income from
general sources for 1901 was s30e.753 O7 .ex-
house at Truvers Island and the $4,000 Ola
the furniture and fittings which were con.
sumed by fire on Jan last making total
The expenses Of the city house in 1901 were
taPe GeP and ittinss at iravers Island s2s5 o.
plus the cost Of administering .Trayers island
s2Cso9 25., leaving net result 9i s23'oSI Is
balance sheet indicates that the mortgage
held by the Manhattan Life Insurance Com
pany on 1ravers Island was reduced from
$50 900 TO s25.OOO. thus decreasing the annual
interest charges s.2S9 Attention Is calied
% the fact that under The The stipul,stions p,,,S OF
other than turning the Insurance check OF
,l2 over 70 the Manaettan LIZ ,nsursnSSs
case 1he general condition OF the business
AFFAIRS Of the club was such as TO convince
the board OF Governors rs that & u was s wise 70
and reduce the mortgage by the amount
indicated ,,,,,.,
the end OF 1900 shows that the club had a
floating debt. In the form OF notes OF $4,000.
and bonds 0Sd Of sI0 us IA NH
venber 1898 This fact had much weight
in determining the policy Of your board in
ton II was obvious that the floating debt
must be paid at the earliest possible moment,
and that rE$rii n bs cT
should be speedily attended 70, in order that
the ,eV,S expense under that head should be kept
The debenture bonds were being paid
Of ew sfn5d as a sS PfSSDs. SDs.
4eS.oS H9t Hp'In q assumes at Constitution and by
laws we're adopted and board OF competent
uertions In pursuance OF tho responsible
ties imposed this board has disohaarsed
absolute Indifference as TO future punish
ment ,, ,, -, A..
members OF the board that IL was both eoo-
nomical and wise to decorate and renoNAte
the city house, because In no other way couIo
20 many members be benefit cd the revenues
he 20 materially enhanced. and 40 much
poVer be added to the magnet which draws
ts,ruits of the right sort and without which
mia ~ q
permanently succe--iul The ooard ~ also
aware that the enforcement OF discipline J.
not calculated 60 cnhanc" popularity, Andyct
that instrumentaluy y a. potential az any
other ia mo talning the prestige and hhah-
,ial integrity Of "A great club
a. he hu-nr-s statements indicate the
patronage OF the various departments OF the
'Hb h1- been unlf"c.dcnl"d hhd shove no
moon members the necessity for fpecisl
.fYrt on their part toward secdf ms hss
..rt.i up8u a -sr.ous setback misht rnsue
A. tLpf, sfH 10 important expenditure
'or rs'raofd.rary rcl.a.fs or bel,.rmrnts
ndeut hot he foauns d"bt Of 80 90 ohn be
paid uu. and th" hrDcsHafb amount sIyi1
ihs two npof- oi tho meuu1i apaf imeni
luIlflus ai .1.rins the pfr-"ni hous" leased
from ~ Mos hfa.'y 'oiPnlanl To- ~, lr4i
f.r tII- ru.T,r g. ,HtIuatsd ~ 5000. -
rlu-.se Of tLe augment uon ~ lhe fe,ensss
tUs tuffT Too urs Tou1s .fr n..'i
no ..iaml'y of ,rr q ,,iu. ugn .i 600 l'.s, msin
raI,,. :, CO.., u....l.fa q l-fs, sim se.p
20" hg ,.. .''9i 80, a.. w. NSio .aceaIaa aeIaa
.,a.I 1'. 20 " in,' , 20 80 .,Tsl,'
lrsl uDarusYs j.. 'ls ,.. iut"g i'si b.
'sH'G dG,m.l, "a s.. , d. ki. q. n S-.
I.'.ss ~ 900. r.H ft'