CORRESPONDENCE.

Press, Volume LX, Issue 11512, 19 February 1903, Page 6

CORRESPONDENCE.

"LATE" TRAINS FOR THE CRICKJii' Match. TO TOT EDITOR OF THE PRESS. Sir, —as a lover of cricket I quite enjoyed the recent match between Lord Hawke's team aad the. Canterbury eleven, and must congratulate the Canterbury team on having done bo well. lam looking forward to seeing the match, between the English team and , the New Zealand eleven at Christchurch next week end. But my object in writing to you is to point out i«e absurdity of the Government advertising cheap fares and late trains nob only for the cricket matches, races, and other evente which take place in Chxistchurch at different times. I have nothing to say about the cheap fares, but co far as 'the late trains are concerned 1 when one <hae to leave the cricket ground an hour and a half before the drawing of stumps (at. 6 o'clock) to catoh the late train it certainly does eeem ridiculous. Why they cannot' start the trains at 6.10 or 6.30 or later passes my comprehension. I think it ifl a bifc too bad when one has .arranged one's work*to g*t away for the day you should have to leave at a- timo perhaps the most interest-ing of the day, or unable to see what might tura out to be an exciting finish.—Yours, etc., ORIGKET ADMIRER. CHRISTCHURCH MEAT COMPANY'S ACCOUNTS. TO THE EDITOK OF THE TRESS. Sir, —I have read with interest the letters of "Country Shareholder" and' "Depreciation," which you publiah under the above heading. Surely "Country Shareholder" is hardly just to the management when he complains that the profit on the realisation of the stock on hand' *at the beginning of the year should have been applied to wiping out the debit balance of the previous years working. If ho will look at the profit, and loss account he will see that the debit balance of the previous year is the first item provided £ot, so that practically the profit on tue big etock at> the end of the previous year was actually used as he say 3 it ought to be applied. Twelve months ago the company wa3 blamed for having a large stock on hand. This year the management is criticised for having made a profit on that stock instead of being praised for the good judgment that prevented the stock being sacrificed in a> bad market.

It is certainly thoughtful of "Country Shareholder" to draw tie attention of the Labour Unions and Tax Department to the Company's profits, and 1 I have no doubt he feels lie is defending the interests of his property in so doing, but if Jie had -carefully read, the managing director's spe<ch •he would have seen that the relations between the company and ita employees are of the most cordial character. The wages are settled by the Arbitration Court, and are satisfactory to all concerned.

With regard to ''Depreciation's" letten I can only say that <o my mind none of the manufacturing companies in the colony make euflicie.nt allowance for depreciation. The allowance made by the Christcburch Meat Company this year if, ns I said at the meeting, not as much as I should like to sec. but I think th* directors acted wisely iv paying out of the exceptionally large profits of a bumper year a moderate dividend to shareholders. Tt» dividend took about £8000, while of the balance f the profits £13,600 was applied to wiping out the old <i«?bit at profit and lop?, £iiojo w.-is added to reserve fund, and £7394 was written off for renewals and replacements. In other words, £25.994 was applied *o strengthening the financial position of the company, while only £8000 was distributed amongst the shareholders. If "Depreciation' , is not satisfied with such an application of the profits bo is hard to please, but I hope will see a- similar sum add«d to the company's resources twelve months hence, as the prosperity of our big meat company means much to all in Canterbury.—iour*, etc., JOSEPH GOULD.