LETTERS TO THE EDITOR.

Otago Daily Times, Issue 13861, 26 March 1907, Page 2

LETTERS TO THE EDITOR.

DUNEDIN AND KAIKORAI TRAMWAY COMPANY. Sir,—Mr Sligo's reflections about honour and good taste may bo passed over, as wo are not, I hope, involved with tho kind of society he mentions, of whose reputation he appears to bo jealous. Liko Mr Sligo, I will not be dismayed or disheartened as to the future prospects of tho company, if onlv, as 1 stated' at the meeting, a wise control of its affairs is exercised by those who are responsible to tho shareholders. It is regretlablo that Mr Sligo has been so rash as to make a misleading statement in his letter, where he says that '* it should be borno in mind that in addition to tho excess expenditure to -which he (Mr Sligo) alluded, thcro was the eost of a new cable (nearly £400) charged in ' last year's accounts. This," he adds, " will not, be recurrent in every year' 9 accounts,, although, as a matter of fact, there wrll be one chargeable to the accounts of the year now running." As a director, ho should have known that this item for ropes has been u. recurrent one in nearly year's accounts, only one year (1905). being freo from any charge for new cable or rope, the reason being that one ropo lasted 20 months, (he next 17 months; and succeeding ropes have only lasted 10 months and 12 months, while the present ouo doce not give liiucli promiso of a long life. The dates of payments for cables in tho company's books are as follow.—October, 1991, £338 3s sd; November, 1902, £433; February, 1904, £404 4s 2d; July, 1905, £402 8s Id; May, 1906, £393 13s 3d. I am surprised that Mr Sligo, veteran as lie is, has not a better grip of the' company's affairs, and trust, that in future he will" make sure of his facts before attempting to controvert a few simple lignrcs.—l am, etc., j Edwahd Roberts, Sip.,—As a shareholder in the above company, I am at a loss to understand what Mr Sligo means by his letter in your issue of Monday, 25th inst., when be says: "It should be borne in. mind that, in addition to the excess expenditure to which I havo alluded, there was the cost of a now cable (nearlv £400) charged in last year's accounts. This will not. lie recurrent in every year's accounts, although, as -a matter of fact, there will bo one chargeable to the accounts of tlio year ■ now running." Now, Sir, what are tho real facts of this case? As tho question regarding the duration of a cable was asked ot tho chairman at the annual meeting, he, after a consultation with the secretary, stated that the average life of a cable was from 10 to 12 months. This statement was acquicsccd in by tho engineer and other directors present; therefore, will Mr Sligo kindly exnlain' himself when he says that this is not to be a recurrent account? Is lie trying to raise false hopis in the minds o ! the shareholders?—! am, etc., Shareholder.