THE POET CHARGES

New Zealand Times, Volume XXXIII, Issue 7449, 25 May 1911, Page 1

THE POET CHARGES

SUGGESTED SUBSTANTIAL - ■ SEDUCTIONS. Mr M. Cohen has given notice of intention to inovo the following series of motions at tho next mooting of the Harbour Bool'd AVith tho object of substantially reducing tho charges recently and allegedly temporarily imposed—aad as the practice of executing new works out. of revenue is unwise and mi n ecessary —a no further, seeing that tho sinking funds under present processes will extinguish tho board's; indebtedness in something like thirty years, leaving the present assets of the board unencumbered—and further, that a readjustment of tho extent and manner in which amounts for depreciation ■ are provided, may enable tho board to carry this into operation—tho following resolutions be given effect to as an initial step;— - ‘ ■ (a.) That the manner of writing- off sums for depreciation be altered from that now prevailing. That such, alteration be effected as hereunder indicated, dr in such manner as will have similar result: . . .. (bo That the depreciation and maintenance ‘accounts bo kept separate and distinct- , ' ’ _’L j (c.) ■ That tho sum written off for depreciation be. a reasonable percentage' on tho -several - classes’ of the board's depreciatory assets, and- that, when tho aggregate amount is ascertained in each year, such sum shall be transferred from revenue to the credit of the depreciation fund account in cash.’ (d.) That such casii depreciation-fund be available-for renewing such assets a-s have been under contribution to the depreciation account from time to .time. (e.) That in the meantime such depreciation fund: account be credited with current interest, either by the! board, who may use it for the extinguishing or. reduction of overdraft, or may bo invested from time to time in the same manner as the sinking fund of the board. (f.) That all , new work involving an expenditure of more than JC be constructed entirely out or roan moneys. (g.) That a maintenance account of the usual character in esuen institutions' be kept with the object of keeping the board's machinery and other like assets up to their tnilest capacity of usefulness, and that such a.gSregate maintenance account be annually ebited direct to profit and loss account before the net profits for the year be ascertained. “Do- J’ou suggest a special meeting to discuss it, Mr Cohen?" asked tho chairman. amid laughter. "Oh, no,” was tho reply. “Its bark is worse than its bite. There are a whole lot of-little matters that, can be discussed together.”