THE PICTURE THEATRE.

Waipa Post, Volume VII, Issue 326, 26 June 1914, Page 5

THE PICTURE THEATRE.

TO THE EDITOR

SIR, —Your correspondent, Mr M. C. Lawson, in Tuesday’s issue is a truthful man. He does not “ throw cold water on the project,” but plasters it with snowballs frozen at the whim of his sterile pessimism. At a meeting in the Cosmopolitan club room, reported in Tuesday’s issue, it was patent to any onlooker that a certain number of those present, including your correspondent, were keenly disappointed, not only at the public-spirited action of the townsman who has offered free of cost to the company a site valued at approximately £650, but also that nearly 1000 shares have been applied for, and application money paid thereon, by the leading residents of Te Awamutu within a few hours of the project being mooted. It is strange that although Mr Lawson was at that meeting he withheld from the assembly his illuminating thoughts as a financier. A!s a matter of fact he and othei's were so nonplussed at the gift and at the enlightened progressiveness of their fellow-townsmen that they looked for some sinister motive behind the whole scheme, forthwith raising the question of suitability of site, which they discussed to their hearts’ content. Mind you, Sir, not one of these speakers had applied even verbally for one single share. Apart, however, from these sidelights on your correspondent’s attitude, I have no doubt Mr Lawson’s letter will fail in its purpose of crippling the project, for two very important reasons, namely : 1. That no resident of Te Awamutu will associate rash specula-

tion with the names of the provisional directors appointed at the meeting—Messrs H.Y. Collins (chairman), J. B. Teasdale, G. M. A. Ahier, M. S. Laurie, and Captain J. A. Hope-Johnstone, or with the names of the main body of the shareholders, who, in spite of Mr Lawson’s statement have already applied for approximately 2000 shares in the company.

2. That even assuming Mr Lawson’s figures and bank finance for £4OOO to be approximately correct, and writing down the estimated net annual profits from £BO9 ios to £4OO, there would upon his own showing be £4OO to divide amongst the lucky shareholders and the 2000 shares mentioned by him say £l6O to pay an 8 per cent divident, and £240 to go in reduction of the bank overdraft.

The question of site has fortunately been left absolutely in the hands of the first general meeting of shareholders, to take place next month. Every resident admits that the present Town Hall (“save the mark !”) is quite out of date, and unworthy of the town, and every resident, unbiassed by irrelevant consideration of the site, will see to it that a proposition combining a sound investment with the modernising and advancement of Te Awamutu shall not be wanting in ready support. In conclusion, allow me to express the opinion that it will be a sorry day for Te Awamutu or any other Waikato town when it allows a party of inevitable killjoys to stifle an enterprise in which they have shown no inclination to take the least monetary interest. —I am, etc., James Christie. Auckland, June 25th, 1914.