, 1882-01-07
/ 81 8 &c AVIS, "
gt1ia4ia1air6, II, gepix.
SATURDAY, 18th JANUARY 1892.
U R "a

AS the taXpaying public here has a
direct interest in the working Of the Fac
tory. besides the general interest that so
important a factor i'll our industry must
always possess, we have 10 doubt that the
summary Of the Report which we publish
ed last Saturday in a translation from the
DdgbIad, has been generally read. 1t seems
to us that it is not sufficiently clear.
There has been a profit OF 1866, 123 crowns;
but after dGductlng interest and Tire like and
putting aside the amount provided in the
constitution for the wear-and-tear fund,
there remains only l4,201 crowns. Surely
it would have been easy to state what
interest was paid, how much was passed to
credit Of we-araHl-tear fund, and 50 forth;
but we are left to work ont these figures for
ourselves, il we can. AS far as we can
guess from the report the interest paid
must have been the 5oI0 interest On the
MORTGAGE debt to the 5tat2treasury Of
1.440.00O crowns, which Will give $4,000
crowns; according to the constitution for
the factory there is to be laid aside every
year, after paying the 50I o interest and
Dol inStaIment to the State Treasury, an
amount of SOLO of the stock capital to
the wearand- tear fa4d. The original
stock capital may be put down at the same
as tlt DtNlC AiNHSltIN hAiCAb5tSNt 0HH N~
5oIo to the we&rand-tear fund will thus
likewise amount to about $1,000 own
under the head Of 1.-The like" viii thus 90
1922 crowns. From the report it Will be
seen that the working expenses have been
1.0S5.S77 crowns and it would indeed bc
well if the Directors would comply with
the 11th paragraph in 3rd Chapter Of the
constitution according to which the accounts
shall be exhibited 4 weeks previous to the
ordinary General Meeting not only III
Copenhagen but also III a place IN ST,
Cr0ix for the inspection Of the share
holders. This pr0yiso is no more than
lust, and we do not see from what reason
II is not complied with; surely the Com
pany can reap 10 benefit from yelling the
accounts il darkness.
If we are correct in our SuppOsitiOn that
the State Treasury has received one years
interest and the fund OF w~ear-and-tear o
similar amount, then the result ct the last
campaign must certainly be considered
excellent in comparison with the former
years; it is indeed cOnsoling to find
that not only working expenses but also
interest to the State Treasury and the
regular amount to the Wear-and-tear
fund has been paid, for so long as this is
the case the factory will continue to work,
and the colony to derive the benefit of eos
operations. Experience in the mean time
Will it may be hoped gradually improve it,
as it undoubtedly has done in the past, till
at last we may come to a really successful
stage in the Company's- affairs; but We
really cannot look upon the past campaign
as a normal one as long as it is remember
ed that the shareholders have not received
anything, and the guarantee for that year
so far also will come against the Colonial
Treasury. The shareholders, OF whom the
greater part are at home, have certainly
been very kind towards our Treasury, but
this cannot always be expected when the
shares in the course Of time go to other
people than those who from interest in the
welfare of st. CrOix AVE originally taken
them, then at least will the Treasury be
asked to fulfil its guarantee this cOmmu-
nifty can therefore certainly not looksupon the
present state of the Factory as normal, BUT
we must hope for 4 better future, perhaps
brought about by the new vacuum pan,
and meanwhile support the factory that it
may not eventually be said that it
fails from want of such, and not from any
i. deficiency in its own system. In co injection
herewith we cannot refrain from re marking
that the Reports of the General Meeting
at Copenhagen. have. always shown a
tendency. to find faults or deficiencies out