CORRESPONDENCE.

Poverty Bay Standard, Volume I, Issue 47, 23 January 1884, Page 2

CORRESPONDENCE.

(We do not hold ourselves responsible for the opinions expressed by our correspondents).

LEASING THE WHARVES.

TO THE EDITOR. Sir, —Having read Mr. Townley’s remarks on the Harbor Board balance-sheet, and the comments of the “ Financial Editor” of the Telephone thereon, I am anxious to know by what mode of calculation those gentlemen have arrived at the conclusion that, had the wharves been leased, as proposed by Mr. Carlaw Smith, the Board would have just

“ had £486 less to their credit,” lam not going to touch upon the feasibility or otherwise of leasing the wharves, but I want to know, you know, how they have found it out. The statement gives the item “ wharfages collected, £1,002 6s. lid.” Deduct from this the salary of the wharfinger, and other incidentals, say £2OO altogether (rather too low an estimate) which leaves a fraction over £BOO. When Mr. Smith, who is a thorough business man, proposed to lease the wharves, £5OO was stipulated as the reserve at which they were to be offered, so that the loss (if any)—putting aside the trouble of which the Board would be relieved—would only be the difference between the amount of the tenders and £BOO. Where, then, does the £486 come from? The disputed claim of £64 won’t make it up. I am, &c., Gills.