Page 4 Advertisements Column 3

Taranaki Daily News, Volume XLVI, Issue 166, 18 July 1904, Page 4

"March 10th, 1904. " Hairing been requested to supplement our former report ot > Ahe. ijtl, TU„„,„',.„. l..„« ...ul. „ „i.i 4 -» H _:..._ „< "the Empire Hotel for the four months from the Ist November last, we have accordingly made a further • 'examination of the books of the Empire Hotel, and ■'l.™ I- .„„„,.! H,„i H,. :..i- -« il-- £..-: «__ lumber to the 29th Febri fast, inclusive, as shown therein, amount to £lO «s. lid. " This brings the total receipts for the jear ending 31st , December, 1903, to £28,671105. sd. "BADHAM & BISB, " Professional Accountants and Auditors." It will be seen from the reports that the receipts show a marked inorease year after year, rising from £14,040 for the year 1900, to £28,671 for the year 1903—an increase of ovar 100 per cent, or more than double. Compared with 1901, only two years ago, when the new buildings were completed, the receipts for 1903 show an actual : , 0 { oYer go per oent. •""'minn.t.inn nf tbo bnnVfl fibnira t.liafc rtin rnnoint The present rate of profit on the Empire Hotel alone rep) sents in itself over 8 per oent. on the entire capital of the consolidation without taking into account at all " The Mansions " and the " Bellevue Hotel and Gardens." With more accomodation available, which the addition of another story would give, coupled with the large economic o which can undoubtedly be effected under the consolidation, tenet profits should be increased by fully 50 per oent. RECEIPTS OF The receipts of " The Mansions " amounted for the past eight onths, to £2,184 19s. od., and the expenditure t0£1,621165. 9d., iving a surplus of £513 2s. 3d. on the Ist August, 1903, and that these figures represent the returns for the period in which the house was started, and before it can be 3aid to have been in full working order. The following is a copy of Messrs. liidham & Biss's report:— "Wellington, "April Bth, 1904. "We hereby certify that, having eiunined the books in connection with the establishment known as " The Mansions," Ghuznee Street, Wellington, we find the receipts for the —4.1-1.4 <-. 4—_ August Ist, igos, to March 81s», £1,621 16s. 9d., leaving a surplus of £513 2s. 3d.; but in the above figures no amount has been included for interest on capital invested in the business. ■>, "BADHAM & BISS, " Professional Accountants." BECEIPTS OF THE "BELLEVUE" HOTEL & GABDENS. The receipts of the "Bellevue " Hotel and Gardens, from Ist January, 1902, to 29th February, 1904, amounted to £10,221 0s 4d, while the expenditure was £8545 7b 7d, leaving a surplus of £1675 12s 9d. During this period 52,103 visitors paid £1302 lis 6d for admission to the grounds, and £416 9s Od was realised (or flowers. In the expenditure is included the sum of £1609 10s lOd, which is an extra outlay incurred in repairs, upkeep, and generally improving the property. The Values of the Properties. As to the values of the three properties, reports on this point "hsre been obtained from the leading valuers of the oity, men who are well known in Wellington for their absolutely unbiased judgment, skill, and experience in this onus ot business for a long period of years, and generally their " bedrock" valuations. The whole of these three properties have been carefully valued, and there is no doubt that if sold in the open market to-day they would K that business in Wellington is expanding enormously, and that the values of these three properties must increase proportionately year by year, it will be admitted by everyone that the possibilities of the company must be very great indeed, and that its earning facilities, which are already so high, must be materially enhanced in the immediate future. ■sarly application for shares is invited- Mid should be forfurtlier information desired.

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m m *a EssssaiaE Raifwa.y Servants, ThE SIJPKR, ANNTJATION FUND. The, Minister! for Railways, having) been, questional 'by Mr Colvm if ho J will this session, introduce legislation to remedy the defect in regard to j l*iio Ralil'wx? Employees' Supoivnnuation Fund, tiha result of such defect being that tbet employees who went out during the strike of ISBO are now deprived of payment for their services r.aiderod previous to the strike, lias replied : ! This is a request to admit the principle »thnt broken time should count for| tile purposes of superannuation. The underlying principle of the superannuation fund is most unquestiomi jbly continuous service, and every ma j> who joined the fund has none so with a full knowledge that benefits ' nould bo counted on that basis alo'iie. Before joining, each individual was furnished with a copy of the A ct, and a circular attached m which it was made clear that on- , i.v continuous service would count. i 'J'iveryonei who joined h a s done so on 'the principle that he is lo pay a i certain contribution to receive certain benefitjs. If, therefore, the prin- ; eiple upoin v .'hich these benefits are to jbo granted is changed, and in such 1»t way us tio jeopardise the stability !of the fund, it will be necessary to | either increu se the contr.jjbtutions very ! largely, or .to reduce the benefits. Jin either .ease every contributor ; should be gif v 'en the option of saying whether |he is prepared to accept the conditions or to withdraw from the fund aiitf obtain a refund of bis (contributions!'.; and alterations at j this stage jftvill inflict undoubted ; hardships on the beneficiaries—old !iihn. widows, «ind children—now upion tho fund. I am firmly of opinion i that no disturbing element should j be introduced ten mar the success of , a scheme, which if a most undoubt- ! A question From Mr Taylor wheth- , er legisl atlon wiir be introduced this session ,to remedy tho defect in the ' present law affecting the Railway i Emplo,\ reus Superannuation Fund, : the res wit of which 1 defect is that employee s are deprived of payment for the pi jriod of their service which was 1 perfoi med under the Provincial Governr oents, has received the following : mswer from the Government : Tho adding of provincial service to the time on which superannuation is paid j will increase the liability of the fund ; considerably. As the law stands it c annot be paid for, and the questioi a of whether any amendment is to be made in the Act is now before Ci iKnet.—New Zealand Tim»s.