“AN UNGENEROUS LETTER”

Hawera Star, Volume XLVII, 20 August 1928, Page 6

“AN UNGENEROUS LETTER”

MR. DIXON REPLIES

POWER BOARD’S COMMENTS CRITICISED.

(To the Editor). Sir, —It. was my privilege to accompany Air. Lamb when he handed' to Air/ Bone the letter published. I ksay “privilege,” for I take off my hat to any man Who, when he makes a mistake, is man enough and big enough to acknowledge it. To call such a manly explanation bungling is, to say the least, ungenerous. Air. Borne says it almost, passes belief that any mistake in iso important a matter could be made, yet there it is. My reply is that it is difficult to explain why a slight difference should interfere with negotiations between the deputation and the company, and why the deputation entrusted with the responsibility of so gigantic a transaction could be guilty of refusing to look into the •ioose* leaf ledger and balance-sheet offered, that would enable them to certain the position of the company. Is a slight misunderstanding; sufficient reason? Why did tine deputation bungle by allowing the accountant, who had crossed .swords with Air Lamb, to introduce the business, instead of a member of the Power Board ? It looked as though' the board was courting failure in negotiations from the start by thnir lack of tact. Proof of my •statement that wliat was offered by Air Lamb was the information they desired : Two independent accountants who looked through the ledger refused by the deputation stated that .any bookkeeper or accountant should be able to ascertain the position of the company from the information placed before them. Now. Air Editor, in view of what has transpired, what excuse can the Power Board give for still refusing to look into the ledger if by so doing it will save ratepayers a large amount of money ? This .action makes one feel that they are allowing tlieir petty difference to blind their judgment. My contention is that if the deputation had made use of information offered before leaving the office, the question of less liabilities or plus certain liabilities would have been fully understood by the board in spite of the acknowledged mistake. The expenses of arbitration could have been out , down considerably if not done away . with altogether. For incredible, bungling the board are not far behind. It I is only fair to Air Bone to say that he I was not one of this deputation. I wish lie had been, for I feel sure, having had a good deal to do with ledgers, he would have ascertained what information could be obtained from that source.

Now, Air Editor, surply it is not too late for the Power Board to examine the loose, leaf ledger and balancesheets they refused some days ago if by so doing they can tsavia thousands or pounds for the ratepayer. Mr Bone says Mr Lamb is completely in error. This very statement points to the need of a round-table conference between those negotiating this important transaction in order that all interested may better understand the conditions of sail© and purchase. Have the business men of the town looked into the offer made bv the Power Board? If not there 'figures will show the absurdity of the offer of £67,000. Thp balancesheets' of the company for isix years l reveal that profits of over £40,000, after writing down for depreciation was £27,000; last year a profit of over £BOOO after writing off for depreciation £457.5 and .paying debenture tax of £2688. .Surely no business man will argue that the amount offered' for such a, business is adequate.—l am, etc.. E. L. DIXON.