The Takapuna Tramways and Ferry Company Limited

NZ Truth, Issue 571, 27 May 1916, Page 4

The Takapuna Tramways and Ferry Company Limited

Report and Balance-Sheet for Mmrth, 1916. The above, concern seems to be going from bad to worse, and it is a wonder that Its affairs have not before now raised the very dickens amongst the unfortunate shareholders. Fanoy what it must feel like to Invest £42.240 In a concorn and not recolve any dividend on the funds which have so been sunk. AJho, consider the awful plight tlie concern has reached m tho matter of debt. Debentures of £30,410 at 6 per cent. Interest and other debts of £1109, the two making on a total £81,518. The company seems to be able to meet the interest charges, but the shareholder* can whittle for their share. THEY GET NOTHING. But; " Cambist" has not one shred of sympathy '-for 'these people They deservo all they got. One has only to look at the names of tho directors, und then make a calculation ns to how many of theao gentlemen havo drawn directors' fees from, the boards of dofunot companies that at one timo or other withered undor their supremo powers of management, What i about iho P. S. Company, and th© iMiicholuon Timber Company to go on with? Ijxnt year when reviewing this concern, "Cambist" hoped to see improvement from the traMc receipts, but ho Is doomed to disappointment. Last yenr the gross revenue was £17,883, this y»ar It is only £18.791, a paltry Increase of £90S. Then, look at tho expenditure. La#t year tho expenditure wax £16,744. while this yenr it luis mounted Up by £1496 to £17,240. The position then ix that on tho viutl working of tho company it hn# gone back by £688, Jt must not be forgotten that £1622 was written off plant nnd buildings, but thru sum doc* not affoct the figures which have Ju«t b«?h'" given. The fact m that the company ha* Kone to leewnrcl, The dlrectOM wty they have plvtutum In !>r*nvntlnK the inimuil report They ftre n nice lot of gentlemen, nml on thtr ftteo of thing-* have a wonderful ncniio of humor. They may have pood humor, l»*jt tb« *b*r«h«)hl««r who h«>nt thin balance -uheoi to "Cami>jpf m a MOHT MAD HUMORED KKLLOV Indeed. Writer -wouM not llk« to yff^M hi* remnrkii m (hl# toiotni), l^aul M. Httnucn. \vh«» hax lately Iwn Intwneil an an enemy *ui>jwt or'nonic thing under thp military Uiwn of Hi}» country. Ir n*jM>r»«l to Unw hatl , IU electric whfm* on h»*!| *»«<! ii» h«v*« lutroduoed U to the nollfc nf th« board! Should ii I>p adorned most or tu*> old lilftftt woulU bt? itcrapp«d. <md »uor» money would b« rc<iulr«d lofiiu b>. ixut*