DEPRECIATION FUNDS.

Dominion, Volume 2, Issue 490, 24 April 1909, Page 6

DEPRECIATION FUNDS.

. Making • further reference to the tramway depreciation fund ■ controversy, Councillor Ballinger states: "In , answer to Mr. Bolton's figures published in : Thursday morning's Dominion, when, he says that the allowance for sinking fund and depreciation under the Glasgow system is, 9.48/ per cent., as compared with Wellington's 3f per cent., I have again to point out that he is absolutely wrong m;both statements. My 'figures are. taken from page 19 of-the Glasgow tramway report and balance-sheet, which ehows the capital expended to be £3,146,575. From that is deducted non-depreciable land, £136,222, and a lease of the Govan and Ibrox lines (also nondepreciable) £4057, which brings the v gross capital down to £3,005,296. The total depreciation on that amount is £188,603, from which £43,804- was expended, leaving £144,799 as the actual depreciation. • This works out at 4.8 per cent., not 7J per cent., and their sinking fund is 2 per cent., which snakes a total of 6.8 per cent., not 9.48 per cent. Mr. Bolton has evidently made some huge blunder in his calculations and evidently does, not understand what the figures mean.; There is one point in connection with the Glasgow depreciation that both Mr. Wilford and Mr. Bolton have overlooked. That is that the Glasgow people increased their depreciation, only last year It took them twelve years' working before they increased their depreciation, and the Wellington system has only been in existence for .a little more than a third;of that time."

The Labour candidates will speak at Island Bay on Monday evening.' ■'. . ;;•.■■ In our advertising columns Mr. Kobt. M'Konzie, who is a candidate for the City Council, announces his views on tho fire board question, tramway works, leasing of Town Belt for residential purposes, water and drainage for outlying districts, and other matters. ••,'■•.. Dr. A. K. Newman will speak to-night at Palm Grove, Berhamporo. On Monday he will address , the i electors at Victoria * Hall, Newtown, and on Tuesday at. Druids' HaU. ■■- :■■■: • -■■. , . The advertisement in regard to polling booths for the Lower Hutt Borough Council and mayoralty election has been amended by the inclusion of three more polling; booths, viz.:—Town Hall Buildings, Infants' Schoolroom, Victoria Street,' Alicotown, .and tlio offices of the Hutt County'Ciuncil, Lambton Quay Wellington. :.'■....' Mr. F. G.. Bolton will address the electors at the Kelburno Churchroom on Monday night, and at tho Sydney Street Schoolroom on Tuesday night. .*. ... 'The Sunday concert question will be de-. bated by Councillor P. M. B. Fisher and the Rev. J. J. North at the Town Hall on Mon- \ day night. . . , ■■'. . Mr. : Fisher speaks at St., Thomas's . Hall, . Newtown, on.Tuesday night.- : h Mr; Wilford speaks at St. Thomas's Schooln room on Monday night, and at the KeJburne t , . Churchroom on Tuesday. 10 A committee meeting of friends and suph. porters of Mr. F. M. B. Fisher will bo held '? at the offices of Messrs. Thomson and Brown, !C * Customhouse Quay,, this evening. , A full at- ]' tendance is / ■ • •.

Mr! J. G.- Harknoss addresses tho OnsloW .Borough. electors at tho Wesloyan Church,Ngaio, to-night: at tho Church Hall, Kak warra, on Monday night; and at Vickerss Hall, Khandallah, on Tuesday.night. ■ [ '" Councillor M. J. Hodgins, of Lower Hutt, intimates to the electors that ho mil- again bo.a candidate at tho coming council, • clec,'tion, and trusts that his. services as a coun-, cilldr in .tho past will justify a. Tone wed expression of confidonco in him. ' ' _ .; ," , Tho nominations of eleven candidates for Potone Borough' Council- aro advertised today. Mr J. W. M'Bwan has been ■ elected Mayor of the borough for .the ensuing twolvo months. - '-. ~'■"■'•. ' ■ ■ Tho Mayor of Potono (Mr. J. W. M'Ewan) inserts a notico of thanks to the electors of the borough for having again returned him to tho mayoral chair. . Mr. William Trueman, of Britannia Street, Potone, is a candidate for tho Borough Council election. If elected, he intimates,. it will bo his endeavour to advance the interests of the borough to tho best of his ability. '■■Councillor A. Colquhoun,' in announcing that he will again cope before the electors ofPetono at tho council election, espressos the hope that his actions during tho past term havo earned for him tho confidence of. the ratepayers. ■■■ ■ ' , \ " , ~■'