BALANCE SHEET QUERIED

Sun (Auckland), Volume II, Issue 404, 12 July 1928, Page 16

BALANCE SHEET QUERIED

AUTOMOBILE ASSN. MEETS “TOO MUCH CASH IN HAND” An amendment to the adoption of the annual balance sheet, that it be referred back to the auditor, broke the tranquillity of the annual meeting of the Auckland Automobile Association last evening, which was attended by only 70 or 80 members. Mr. G. Campbell, who moved the amendment, took exception to several items, particularly the large amount of cash in hand and on deposit in the Savings Bank, a total of £1,252, which he contended should Lave been earning a higher rate of interest. He also contended that the safle of road guides and maps should have shown a greater profit, and that sutfficient depreciation had not been allowed on the association’s car. Tho secretary, Mr. G. W. Hutchison, said that since the last annual meeting the council had invested £ 1,450 on first mortgage. A substantial amount of cash in hand was inevitable at the close of tli© financial year. The income from the sale of maps, etc., was not large, as it was the policy to supply literature frge, or at the lowest possible cost. Tho amendment was lost, and the report and balance sheet adopted. A deputation from tlie Harbour Bridge Association addressed the meeting, asking for support. It was stated that a toll of 5d el vehicle would suffice if a bridge were erected. A resolution approving of the construction of a bridge was carried. The secretary appealed to members of the assrjciation for cars to assist the Commercial Travellers’ drive on Saturday and to entertain officers of the visiting Japanese warships at the end of the month. A resolution was moved and carried that f.he association collect data on the quest'ion of importing petrol to members, to oljviate the present discrepancy between the price of benzine ruling in America and that ruling here. The example of the Canterbury Automobile Assciciation was quoted. Tl*e new president, Mr. A. Grayson, explained, in reference to the reported ademption of the South Island Mutual Insurance Scheme, that the A.A.A. is quite satisfied with the present agreement with Lioyds and considers it inopportune to make a change. The following officers were elected for the ensuing year: Persident, Mr. A. Grayson; vice-presidents, Messrs. M. H. Wynyard, J. B. King and H. C. Jones; council, Messrs. G. Henning, H. Butcher, R B. Spinks, F. G. Farrell, H. Curd and J. Roberts.