THE WAIMATE ADVERTISER.

Waimate Daily Advertiser, Issue 25, 12 November 1898, Page 3

THE WAIMATE ADVERTISER.

SATURDAY, NOV. 12, 1898.

It was a disappointment to us, as doubtless it was to many others who attended the public meeting called by the Borough Council, to find that a new turn had been given to the proposal to erect saleyards in Waimate. Instead of the report of the committee appointed by the Council to make enquiries as to sites, we had an in. ' timation from the Mayor that there was a. movement on foot to form a company , to erect yards, and that almost sufficient capital was already guaranteed. 'It is gratifying to learn that the set back'company promotion here might be expected . to haye > received from the disastrous col- ! lapse ,of the Waimate Dairy .Factory scheme, there are to be found those- who - * have sufficient faith in the prospects of the place to take' up a^saleyards company - ao promptly and heartily. oWe^ ttiihk, ' however, the company plan is not, the best one either id' the interests- of 'the town and district or of. those*whp ( propose - •tpiorpiithemßelves'into a company.! The expense of starting accompany >is'con-, y siderable'. 'Here are approximately some \ of tlfe oh' argesr-Stamp 1 dut^an'd ;registra- , ■t ,tion.,jeib Jt lawyer £6, printing £i, total ~s> £20. Then there are annual charges — - T Direotpri (say) 420, bookkeeper and

manager iJ26, registered office JEIO, auditors £% annual license fee £1, printing and stationery £5, ' depreciation ,xJ6IS, total J679. There are sure to be other charges which one cannot think of at the moment, so that even if some the above item 3 are considered excessive the total^ yearly 'expenditure is not^likely to bejesa than J670 to J6BO. Take ' it at the lower figure and it will be found that a paid ; up capital of £300 must earn over 20 , per cent, in order to clear expenses only. o» If the borough provided the yards, the initial cost would-be avoided entirely. There would be no directors^fees, rent of office, audit fees, -or annual license. There would only be the borough officials to remunerate t ffoyr y the small' amount of extra work entailed, and the annualaexpense would probably be not more than half that required' to work the yards r tiy a company. A company-could not^be expected to' work- ( its business solely iri*the public interest." It must frame its^charges on commercial principles sp_as>to:.recoup expenses and provide, reasonable interest on capital J It fyoulcl not' be; imperative for the Borough Council to dojso. .-The advantage -to -the^town* would be 1 return enough, ' and " the charges ' need b* more than half j those it would be,necessary for a 1 company^ to make. ->Eveh if run at' a slightjoss Jt^ould ]"nay« th\ town in other- directions. w.The/ Committee, on sites which"/did-"n'6t^report to the.public > ;.^. - 7 } .l&i co'-'i i!VS;, v vi x- r su* .. < meeting "vW% AS3f^?°fV,9?l cour , se Ki/'i o ?i* ne Borough Council/ at .itsmext meeting, when it is to be -tiopSa^th'at" tfie' J Cbimeil will no^ let the'maf ter. drop. . sTiigreaB s Tiigrea8 an^ < uneasy f eeh'ngMnrtheVmifids) oi many of . the,pubn,c that tt^^g^^^l^ai '„ afford^jOpune^^^^ trouble involved' 1 m: t er|c^g/and"joarryhig those members of the Council who have iuo-

*eedeiL,in stirring that body into life and action ■vviUftrersevecein their efforts, they ■will find they are strongly supported by public opinion. this "was in type, we received a f letter;frora " Townsman," which appears in another column, and which is, except in on© particular, to the same effect. — Ed. W.A.] - , -„