The Southland Frozen Meat Company’s Balance-Sheet for 1905.

Southland Times, Issue 19728, 31 January 1906, Page 3

The Southland Frozen Meat Company’s BalanceSheet for 1905.

To Hie Editor. •Sir. —I observe this document puolb-bed ii your issue id to-day. On the Pr. side I sue " Reserve, L.l ii.oo:i.’’ and '* is serve fin - re-payment of loans, TDimiii "—total LRJ.DOd (in Unit it was 115,000,1, hut when I turn to the Cr. side to find what this wonderful reserve is or how it is invested, to 1 I cannot find it. Then it suddenly dawn on me that r.s they (now) employ all their reserves in the business the LIP.OOO must bo part and parcel of the T00,500 odd for I.*md A buildings, ma'diinery. pin’d. and stores—w hicli, by the way. • i ' only some ,117000 more than Hie previous year. Well, that, is not my i lea of a risen c. (If course if the concern is worth from Tilli.Otn) to Lion.poo, the L 1 ".non is there, but if not it is a no lb; and Iliad is why I consider the term '■ reserve " calculated to mislead the unwary and nnitiated shai’eholLr and public investor. If the business was mice I would write off from L.'10.000 to X 10,000 straight away, instead of idling up the assets —this year ,L7oiai niori —as they do from year D, year. but I lien according to the idea of the Scintilla'.d Frozen Meal Co I am an as in finance, so’ 1 'oppose U.al settle > Hie business. —I am. ctu. , WILLIAM iIA N MVS 11 HO. ::o Jan.