THE BANK CRISIS.

Evening Post, Volume L, Issue 54, 31 August 1895, Page 2

THE BANK CRISIS.

THE KSTATXB VALUIB This is the letter of Mr. W. G. Foster, Manager of the Assets Company, to the Chairman of the Bank Committee on the estates values : — My total valuation of the estates tbe company ie now working is £1,099.098; add to-day's value for stock, £343,466-£1,442,561. The average net profits, as per company's books, for the four years ending 31st March, 1895, amount to £49,898, whioh provides interest at 346 per oent. on my estimate. There are, however, ascertained economies in management and expenditure to the extent of £12,500 per annnm, which will enhance profits to tbe extent of o*B6 per cent., or a total of 432 per cent, per annum, without taking into consideration any prospective advanoe in wool or mutton. Sundry properties return only 1*54 per cent, on latest valuation (whioh is Land Tax assessment of 1U92, plu3 improvement*, if any, and plus 10 per cent ), but there are ascertained economies in oonneotion with the removal of the head office from London, &0., to the extent of, Bay, £1500, wbieh would increase this to I*9l per oent per annum. In the North Island there are 187,463 acres improved, whioh carry all the stook; 106,259 aores unimproved, not contributing to revenue ; total, 293,722 aores. My valuation is as follows :— Estates now being worked by the oompany and stock thereon, £1,442,564 ; sundry properties, £396,460-£1,839,024 ; tbenet profit yielding 3*Bo per oent. per annum. — Tours faithfully, Waltib G. Fostxs, Colonial Manager.