'JANDIsE, MATHESES & Ca, We hereby certify that we have examined the above Accounts, comparing them with the Books (Revenue avd Expenditare) of the Association, and that we have found hem all in order, EautntesHivisoros, j Auditor, Mr. A. J. How said that there was referred to the property of the wharf, Tt had remained for some years without any addition to it, but this year he noticed that it had risen from either Tls. 244,000 or Tls. 246,000 to Tls. 249,000. It would be well, he thought, that the meeting should have some information as to thi in the value of the pro port; The CHarmwan said, memory, that in 1876 or 1 three or four years ago, the details of value of the property were specified in the report, and the increase to which Mr. How referred had taken place through the construction of other godowns and the increase of the value of the property generally.
Mr. How asked whether one godown or more had been built The Carman replied a portion of one godown only. This godown, he believed, was closed wher particulars he had mentioned were specified.
Mr. How suid that in 1876 there was an ortionment of the property, and someing was taken off the land, and something added to the godowns. He did not Shik there Ind been anything added since then.
The CxxarnacaN anid it was in consequence of the accounts having been closed, that there was the addition to the value of the property.
Mr. Francis thought that if the Chairman would refer to the yeat 1877, would find the details in the capital account. would be better y alteration of this nature was made, that it should be specified in the accounts, There was another question he wished to auk; it was in reference to repaire, Under the agreement between the two Companies, he noticed that all ordinary and necessary repairs to the wharves and brewises were to be paid for by the Association. In looking at the working account, he aid not find any entries for repairs; but he presumed th had been some, and that under the head of "wages, aloe ries, ovolie hire, é&e.," which w or four; (1) wages and salaries, (2)
and the eteeterns, if an tant item, might make the third, The Carman said with regard to the more detailed report of the expenditure, that he should be very glad to a Mr. Francis's suggestion attended to, With reference to the item of Tle, 94,000, which was certainly a big one, into doubt included a great many things," He had no doubt that he should be able to tell the shareholders what it was made up of if ho could refer to the books, Unfortunately they were not here, He bad 10 doubt everything was properly charged to the Association, Mr. Francis suid he mainly referred at present to repairs, It was important that they should be properly apportioned, Mr. How asked if any. repo were included in the is, 94,000 for this year The Caamaay' should certainly. aay there was. All repairs that properly belonged to the landlord wore charged to the landlord, and all repairs of the charaefor usually borne by tenants wore charged to the Associntion. 'The ropaira charged to the Association were the ordinary and necessary repairs to carry on the busi 'Mr. Frincrs retened to a quantity of sugar breaking down the what', and to damage being done to goods through gotting into a godown, It appeared to toms that holders. d, the collapse of the staging was owing to an enormous mass of cargo being placed on it very improperly, and ho should think that was done for the benefit of the lution, and not for the benefit of the wharf in particular.
Mr. MacreaN, one of the an: the Company, said he could Francis. All ordinary and the Association, and were included in the sum of Tle. 94,000.
The Omarnaran said with regard to the arks made by Mr. Francia as to the incurred through the sinking of the staving and the consequent damage to the sugar piled thereon, the answer was very simple when the condition of the staging was such as to warrant Mr, Morrison to recommend that the whole of it should be renewed. It appeared to him nothing surprising that the wharf had given way under the weight of the sugar, and if the same thing were to happen the course of a few days, ho should take precisely the same view of the matter, However much care-was taken, how could any person possibly say that " particular quantity of sugar put on a particular part of the wharf would cause that part of the wharf to go down?) When Mr. Francia said that the sugar was improperly placed there, he did not think he was particularly
Text read from the printed page and cleaned; old type leaves the occasional error.