1934-12-19 — Page 22

THE HONGKONG TELEGRAPH.

WEDNESDAY, DECEMBER 19, 1984.

TELEGRAPH" SPECIAL HOME FOOTBALL SECTION

Football Wealth Not Owned

By Shareholders

'LITTLE KNOWN FACTS ABOUT FINANCE

By. Frank M. Carruthers

"W the Arsenal club ?"

WHAT," I am asked, "is the value of a £1 share in

Without sortiment or any other consideration enter- ing into the question, its worth is fixed by the fact that it cannot earn a higher rate of interest than 7% per cent. Possibly at the present time its value is about 30s.

It should be realised, too that the shares of the Arsenal, despite the wonderful prosperity of the club, are not worth more than those of others who regularly pay their dividends. Even the value of assets do not make any difference.

But I remember the time when the Arsenal tried hard and not very successfully to sell their shares at £1 each. In about 1919 tho lato Sir Henry, Norris prepared a scheme to attract the public to invest in the club. The Arsenal, however, were not lang-anxious to sell their shares, They became buyers. The position is the same to-day.. I should doubt" whether unArsenal share ever changes hande except privately, and It is the same in the case of all the other, leading clube. There is Hoopon market for football club BIRIFOR

打到

all charges against the club hnd hey met would pass into the con- trol ni the Football Association. The latter would, in fact, claim all rights in the players so fng transfer matters were concerned.

How exsential these regulations gre will be realized. Without them, although it may be beyond concep- How different the situation might tiong a prosperous, club might get have been except for the wonderful into the hands of unscrupulous - foresight of those who, built the venturers who would deliberately foundations of the game and hitbreak it up, realise the assets, and down the principle that thero take very, substantini profits, should I no private or personal Rain. But for this wing provision football wonid long since have heen

ONE EXCEPTION

Strangely enough there is ond exploited by the speculator, and if club who are not bound by these it had been able to withstand the annustal regulations. This inroads made upon Is. would to-day | Everton, and in one knows how an be' ħin El Dorado,

exception was made, in their case:

4

SHOULD BE. STUDIEÓ”, The accident retried many years go. The articles of association The financial regulation of foot. ififfer from those of other clubs. ball are remarkables, They u hot obtain in aty other." sport or

The mistake, was discovered n

Lew years ago

ago and an attempt was

OUR Home Soccer FORECAST

Snips

For Saturday Programme

Europe Wants

To See More F. A. Teams

How long can a team remain at INTERPRETATION OF

the peak of their form? The answer to this question settles 'most Manchester City started as if they were to be the The following, is the special team of the year, but after

championships,

Telegraph forecast for Saturday, brilliant spurt they have lost their Whore teams are marked in heavy distinction.

RULES DANGER

OUR "FORM" GUIDE How Your Team Has Been Faring In League

The following table reveals how each team in the four divi- sions of the English league have fared, to date, the results includ- ing their last five more matches up to yesterday.

The first figure in each case, of course, is that of the team concerned.

THIRD DIVISION (SOUTH),

FIRST DIVISION.

By Frank M. Carruthers'

Informal invitations have been received already by the Football Birmighanm type they are expected to win, and QUNDERLAND, on the other Association to send a team on to Derby C. where no such indication is given►

Continent hand, have been wonderfully Scotland have also been asked to Aston Vilin

tho

noxt.aummer. Leeds a draw is anticipated,

conzistent, and at the present time visit Austrin, and they may do so. Chelsea FIRST DIVISION.

they seem to be playing better

ASTON VILLA Y Chelsea DERBY COUNTY EVERTON GRIMSDY.

Leicester

Blackburn Middlesboro'

Ararnal Birmingham

y Wednesday

*

Huddersfield PRESTON N. E. V SUNDERLAND

Wolves

v Stoke

S'ortsmouth West Bromich Liverpool MANCHESTER C. SECOND DIVISION.

Harnsley BOLTON Bradford C. BURNLEY MANCHESTER NOTTS C. Oldham

Sheffield U.

+

7

FULHAM

y Blackpool

NOTTS FOREST

Newcastle

U. - Plymouth

י,

{ SOUTHAMPTON v

SWANSEA

ALDERSHOT BRIGHTON

BRISTOL ROVERS CARDIFF CHARLTON CRYSTAL PALACE Kuton

*

Hull

*

West Ham

OT VALE

+

Bradford

BRENTFORD

Hury

+ Norwich

.THIRD DIVISION (SOUTH).

T

Exeter Millwall

v

Gillingham Bristol City Reading

Y

Northamptos

Coventry

Bournemouth

$

Caplen

Y

Newport

3

Watford

THIRD DIVISION (NORTH).

+

སྙ་

Tranmere

Walsal

DARLINGTON

Carliste

Halition

GATESHEAD HARTLEPOOLS ▾ New Brighton V SOUTHPORT ་ SCOCK PORT YORK

V

Mansfield

Rotherham Lincoln

▼

*

QUEEN'S P. R. SOUTHEND SWINDON TORQUAY

patime, and wish those who made to rectify it. This, however, leve that the League with its was not easy; there were lega professional Intertata in carried on lifeullies. Beto one thinks that - hard-baked bulineis would Everton will ever alise privileges ACCRINGTON Harrow

study them. They would quickly which, wie inexplically granted Chester change their view.

Then at the time the club came into being, and so the position remains DONCASTER as it has always boon.

Te it realised, for instance, that in effect the clubs do nat, belong even to the shareholders? What monoy the latter may have Invest-

ed was simply. In support of KOWLOON GOLF'

game an it might be played on a carfilm ground and under vértali management.

The clubs are national institu- tlona, and as such they are under the direct control of, the Football Association.

WORTH £2,000,000

I do not think I exaggerate. In estimating the value of the BR clubs: who form the League at over. £2,000,000, but if it were possible to realise their assata none of this. money, beyond what was necessary to discharge outstanding debts, would be their. A matter of fact, in this sense even the player do not belong to the clubs. Possibly it is to some extent on this account that the playing staffs, who may have caused a big cutlay in transfer fees, do not appear as spots, on balance-sheets,

Starting Times For

Laneford,

1.Trophy

CREWE

Wrexham Chesterfield

Rochdale

SCOTTISH LEAGUE

· (FIRST, DIVISION) ADERDEEN

The Laneford Trophy golf compoti-Albion tion is to be played off or the Kow|CLYDE Hoon Golf Club on Suhday next over HAMILTON 12 holen nedál, play, of handicap. The HEARTS

'draw for atarling limas is as follows: KILMARNOCK

Dutta. D. Parsons, J. D. Thomson. 0.04 J. Kapley, F. B. A. Remedies. 908 A. Urquhart, A. A. Lépes. 912 111 Mundy, W. A. Stewart. P.10 J Woolley,

C. G

Anderson,

;

9.20 A. Eastman, I'. 'Allsebrock.

S. Macnider, E. D. da Rozn. 85. Seddon, A. T. Braley. 039 W. Groves, Cameron. 9,86 F Angus, C. E., Terry. 9.40. D.- Purves, A., J. Dennis. 144 JJ. Valu, W. C. Simpson. 948 A. A. "Andrews, A. W da

Roza

ne W. irat, Elitek,

Imagine that one of the tufding 0.50 1. K. Collings, R. Henderson. clubs for some reason or other 10.00 C. B. Hnzoni, F. C. Barry. closed down and that their assets 10,05 JJ King, J. G. Chorlton,

10:08 H. C. Berner, A. 3. Coales.

were disposed of for, say, £100,000,-10:12 W Ahern, J. McCaw This money would not go to the 10.16 . E Barnes, A. R. Brown.. shareholders. They would receive Messre. A. Eastman, R. Henderson

no more than they had invested, and A. J. Dennia will net aa Stewards and whatever sum remained, after of the course.

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Hibernians Falkirk Celtic Airdrie

QUEEN'S PARK ▾ Queen d' Suuth v Motherwell BANGERS

Dunfermline ST. JOHNSTONE y St. Mitren

West Bromwich

Middlesbro thon ever. Their secret is that Moanwhile the. "Keep out of Lelecter they have got inside forwards and Europe" movement in gaining in Liverpoot wing halves of the clever, con-{strength. It began before the Forssamuth structive type, with other capable match with Italy, and, of course, Preston players to fit in with their style.

what happened at Highbury has Wednesday Sunderland given it momentum,

Toltentham A year ago I pointed to the dangers. Before the beginning of Wolres this Ronson I again urged the Blackburn authorities to try to arrive at a Arsenal common understanding as to how, Grimsby the rules should be interpreted. | Stoko .. THE Rumanlan Football Federa-It was plain that there was bound Huddersfield

Everton..... tion has appointed Peter Farm- to be serious trouble unless an at- ler, an ex-Celtic (Glasgow) trainer, tempt was made to reconcile the Manchester C.

British with the Continental point to be their coach and adviser.

of view.

DONCASTER Rovera have obtain ed the transfer of Reg Baines, centre forward, of Shefeld United, the fee paid being the highest ever given by Doncaster.

WORK MUST GO ON

3-2 1-0 2-1 1-5 0-4 | Aldershot 1-5 1-2 2-4 9-3 6-2 Brighton 2-1 0-1 4-2 1-1 3-3 | Bristol C... 2-16-41-3 1-1 1-4 Cardiff 2-1 1-1 4-1 0-2 Clapton V. 2-2 1-3 3-2 2-2 4-1 Coventry 1-5 1-0 1-1 0-1 0-8 | Exeter ... 5-1 2-1 3-1 1–4 4–1 | Gillingham 5 15 14 3–2 2–4 | Luton 1-2-1-3 2-3-3 Swinton 2-1 2-1

1-0 0-4 Crystal P. G-1 4-2 Bristol it. -21-4 Watford. 3-94-2 Charlton

2-3 2-1 Reading

2-5 Northampton

1-1 6-0 Newport

2-2 2-4 Torquay

2-3 1-2 Soulhend

0-0 3-1 2-4 1–1 4–0) Queen's P. R 2-3 1-2 2-3 6-2 6-0 Turnemouth. 0-0 2-1 1-0 4-2 2-0 Millwall

SECOND DIVISION.

Bradford Brentford Burnley Bury

THE Villa are now making steady headway, and the public, I am aure, are eagerly looking forward

For more than 30 years England to the time when they will regain have atriven to make football a anme Fulham their old power.. A. general over- of world-wide interest. Having ac-Manchester haul la now taking place, mainly.complished so much are they now Notts F. perhaps, with a view to incrensing to abandon their work? Are they Oldham the reserve strength. The club are to cease to aprend the gospel of Port Vale In fact showing more activity than sport as we understand it and teach SwansCD for three or four years.

Barnsley moral discipline on the field?

Norwich Southampton

I do not think the authorities will

IN their quest of players, however, do this simply because their ideals Blackpool they have had the usual expert-in one game have been ruthlessly Plymouth ence. Some men they would have

liked have not been available, and in all cases the prices-asked have been startling.

shattered.

Bradford C. Newenalle But the big problem remains, Tolton and until it can be settled I think Shefield U. it may be well to leave Europe Notts C. EEDS United have signed for for a time and to pursue the mis-, Hull

West Ham £2,000 J. McDougall, who was jaionary work elsewhere. Sunderland's regular centre half

Europe wants to be friendly with and captain until midway through this country. There is no doubt last season. and was capped for about this, and they will do every Scotland against Ireland În 1930.

thing possible to put matters right..

•

Wright, the Charlton Athletle

H. goal-keeper, is in hospital the calling of a round-table cat

suffering from a fractured rib.

ter

CAMBRIDGE LOSE

Rugger Side Beaten At Edinburgh

In the circumstances I suggestį ference at which I think a solu- tion of all the difficulties would easily be found.

+

2-4 0-2 0-0 2-0 0-2 2-0 2-0 0-0 2-1 0-1 1-42-0 0-3 2-1-150 2-2 2-2 1-0 0-2 1-2 2-4 0-2 0-1' 1-3 5-2 1-1 1-0-014-06-3 5-4-3-3 3-0 1-4 2-1-

0-3 2-2

1-1

3-0

I-

0-1 2-2 1–1 5–1 1-1 203 1-2 0.1 0-2 1-1 3-0 - 1-4 2-2 1-2 1-0 - 1

THIRD DIVISION (NORTH),

4-0 1-1 1-1 0-0 1-2 Accrington 6-1 4-2 3-1 2-2 8-1 Crowe 1-6 3-1 1-1 1-2 3-2 Darlington 3-19-3 3-1 0-0 1-0) Gateshead 1-3 4-1 0-1 2-0 Halifax 2-3 3-2 1-3 1-0 2-1 Lincoln 1-0 2-3 2-0 2-1 2-1 Rotherham 1-3 1-1 0-2 4-2 2-4 Stockport

1-3 1-2 0-2 2-2 0-2 Tranmere

0-3 2-4 1-4 0-0 2-5 Walsall 0-3 3-0 1-1 1-2 1-6 Wrexham 7-2 1-1 2-3 2-1 2-3 New Brighton 9-41-4 0-1 2-2 1-1 Doncaster 3-0 1-1 2-1 2-3 4-1 York 4-0

3 2-0 2-1 3-2 Chester 2-1 0-2 1-2 0-0 1-2 Mansfeld 4--2 1-0 1-0 0-1 4-2 Rochdale 0-4 3-2 3-2 1-0 1-4 Chesterfeld

1-3 34 1-2 Southport 0-4 3-2 0-1 Carlisle -2 2-1 1-1 431-0 Hartlepoole

Barrow 2-0 2-0 4-0.2-2 4-1

Billiards

League

C.P.O.'s CLUB AT HEAD OF TABLE

In my view most of the troublen at Highbury were due to that world champlonahlp

The C.P.0.'s Club are still at titlo which the Italiana ore pleased to claim.

the hend of the Steel and Coulson's Europe's need is to get back Billiards League, one point ahead nearer to the days when they of the R. E. Sgts.' Mess in the same crowned their sporting heroes with number of games played. During Inurel wreaths instead of decking the recent matches they beat the them with world's championship titles.

Garrison Sgts.' Mess by five games

JUST CLUMSY

2-3 1-2 0-6 1-0 1-2 4-1 1-1 1-2 3–1 2–2 G-1 1-2 2-2 2–3 4–4 0-2 1-3 1-0 2-1

0-2 2-1

13 1-3 4-1

|C.P.O.a' Club v. Garrison Szta' Mous

E.R.A. F.

Shpt

Sergent. 150 Sergt. Finkill 96

Yeoman. 160 Sergt. Bloomfeld 100 E.A. Page 118 Sergt. Gatwall 160 Sy. P.O. F.

Rose Gé Bergt. Wodo 180 Joiner T.

Savage. 116 M.G. Longman 150 P.O. E.

Gowing. 150 L/Sgt. Roach

Total.. 740

[S/Sgt.

The results of the matches | Sergt. ogrther with the League table

S/Sgt. re published below:

London, Dec. 18. Cambridge University XV were defeated by 17 points nil to-day when they travelled north to play the "Edinburgh-Acndemlenls-Ren-One good feature about the Italians display was that all their objectionable Infringements were of the most obvious description. There was nothing cunning about them. Their fouls were just awk- ward and clumsy, playing the manE.R.A. F. Instead of the ball. They erred, in our view, simply through falling to

G. Keizer, who formerly played for the Arsenal, and now between sticks in the Ajax (Holland) touring side, in action against felington

adam the Continental players defeated by 0 goals to mil,,

"Wire"

Betting

System

EXPERIMENT AT.

FANLING RACES

. CRICKET MATCH

Army XI To Meet Royal Navy.

Total

Garrison Sgta' Maas v.

R. E. Sgb' Mess

67

713

00

Johns. 160 Sergt. Hodges is one, representing 844 points to S/Sgt. Dyer. 150 Sorgt. Grossmith 186 583.

S.Q.M.S.

Digly 131 QMS. Staples 150

Ramson 107 Capt. Regen 150

Williams 00 S/Sgt. Harris 160

Smith. 180 W.0.1. Leppard 147.

Total.. 778

C.P.O.' Club v. R. A. Sgts” Mors

Sargent, 150 S/Sgt. Five 100

realise the difference between right EA. W. West 160 Sergt. Dyer

and wrong.

The Football Association have n Sy. P.O. F. lot of important work to do. There

72

103

Rose 150

Sergi, John Harper. 94 Sergt. Ranzon 150

H.M. 150 Sergt. Gronk

the question of refereeing. Ch. Wtr. After their last meeting I was told, Sergt. Elsey, "We shall go right to the bottom

of the problem; we cannot leave . E.R.A. 150 S.Q.M.S. Digby

We believe, too, that we shall be able greatly to improve, the situa-

tion."

I understand that at the meeting there was a goneral discussion. members of the committee each pointing out defects in the presont aystem. Possibly such matters as the two referee plan and goal judges were mentioned informally. but I obtained no information on these points. Certainly no decl- thegions even to try them were taken. F.C.) As a matter of fact, the details of the whole question were left to a sub-committee to work out, and there at preseht the matter re- mains.

The following have been solocted to represent the Army in the league match against the Navy th be played on Saturday, December 22, at King's

Park, commencing at 2 pan-Major

LOCAL FOOTBALL

SECOND DIVISION

CHANGES

Several changes are notified by

V. T.. Bonavia, Capt. L. J. Walch, the Hongkong Football Associa Capt, D. B. Michell, Licats. C. Ction for Saturday and Sunday Garthwaite, J. P. Williams, J. R. next. What is to be known as son, H. de Il. Pritchard, J. A. N. The Second Division match on Satur- the "Wire" system of bet-Rice Evans, C. S. M. T. Elvin Corpi day between the Chinese Athletic and ting is to be introduced at WH. Colledge, Corp. D. Ballard,

Pic. E. Dewey, (twelfth man); the Fanling Hunt and Race Club's first steeplechase meeting of the season at Kwanti on Sunday after noon next.

according to how they are placed.

After deducting. Government tax and

Eastern Athletic will be played at Caroline Hill at 2:30 pm; and at Sookunpoo at the same time on Satur- day the Royal Welch Fusiliers second

Club JuniorE:

eleven will meet the Kawloon Football

Club Commission there will remain the East Lancashire Regiment wi

On Sunday. the Royal Navy and for distribution all monies resolved in addition the cost of tickets on the play off their Second Division the on The present sopurato pari-mutuel holders of winning tickets will be sports ground, Causeway Bay, at 2,30 three placed ponies. As at present, the Royal Navy and Royal Marines tickets on winning and placed panies allocated their $5 before the prize darn to be discarded and in their place money is divided, fone ticket will be issued for both win

and placed ponles. The price of thone

pina.

Holders of tickets on the first per cent, the remaining 20 per new tickets will be changed from $2 pony past the post will receive 60 cent. geing to ticket holders on to $5 each.

Dividends will be paid to holders per cent, of the pool for division the third pony,

of the tickets on the first three posted among them and second placod] ....... The system fa in force in Australia

pony ticket holders will divide 20- and elsewhere.

Total.. 844 Total....

CILBEY'S DRY CIN

LONDON

Distilled a Bottled/

Sergt.

Total

LEAGUE TABLE

.... 823

The following League Table includes all matches played to date:--

P. W. L.

C.P.O.'s Club ..... 69 R.E. Sgts' Mens .. 89 I.A. Sgts' Mesa..

Garrison 8gts. Mean 6 583, E. Lanes, Sgts Meas

St. Patrick's Club'.

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