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Rainbow Ranche Collection

Letter from James Goldie to J.E. McAllister, June 10, 1928 Goldie, James Jun 10, 1928

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Rainbow Hanche,
Okanagan Centre, B.C. June 10.28.
J.2.McAllister 3sq.
36 Toronto Street, Toronto.
Dear Mr. McAllister :~
The slack time during which I was to make out Statements
and write you has not yet arrived.  However a letter to you is long
over due.     I last wrote you on April loth, and wrote Bonner last
on May I3th.   The last letter I had from you is dated April 25th.
All adjustments and rebates for last years crop are now all in,
and I am enclosing a Final Statement of Surplus Assets and Liabilitiesf
taking into account the realised values of our inventory.
The Total Surplus now stands at $ 82,014.70 V*mmM*m is/(,f4ty<*5
We have paid out 19,000.00 L ^
Leaving a ballance of ^fill.lO */>* jptfrf^te)
Our outlay ^or Tractor s,plows, / '
Flumes, Disc Harrow amounts to  1,300.00
leaving a balance of 1,214.70 on hand.
I do not like to advise paying this out before talking it over with you.
It might be all right to pay out | 2000.00 .  Kindly let me know what
you thin)? of this question.
Enclosed, you will also find a similar Statement of Current
Assets and Liabilities for the 1926 Crop Year.  On thi^ was paid out
and charged to Traveling Expenses § 2000.
Regarding Administration Account.  Enclosed you willfind
a Statement of this.   It would be quite in order to pay the Directors
a fee and charge to this accountin the same way that the traveling
expense is charged.  The Net profits of the Ranch would be decreased
by the amount and the Directors would take care of the income Tax on it.
In Dormer's case his tax would be less as it would appear on his returns
as earned income.    To me It would make little difference except that
might put me in the taxable class.  Even at that the tax on the private
income is less than on corperations.  Dormer has written regarding this
wanting to know if it could not be done.
Cheques at Par. The .Manager was to take up this matter and
advise me but as yet have no word from him.  fill go after it again.
//ill try to get out our detail Statements soon •  To make
them worth anything all the adjustments and rebates have to be included.
This means that the orignal statements have to be adjusted.
it now looks as if we would have considerable increase in
crop over last year, but a large part of the increase will be in Jonathan.
The thinning is going to be a serious job.  There are 15 Chinamen coming
Monday and we are also picking up as many Japs as possible.  Wages 30 /
an  hour.    The drop is now taking place it will help a little.
Poor fruit this year will not pay ani in order to make anything we will
have to produce a fair grade.    W® are now on the third spray trying
to hoi 1 down the Apple scab, which cost most orchards a lot of money last
year.  There is little worm damage.  The weather has been favorable
for the growth of both Scab and Mllldaa, but up to date we have very
little showing.
The Market prospects do not look any to bright at the present
and t£ the crop continues to look as if it were going to be large it
may be necessary for us to provide^ more room in the packing house for
packed fruit or hand some over to the Union to pack for us.
A poor market means slow movement and the fruit is liable to back up
this means more storage room.
Yours truly,
James Ooldie.
opy to E.3.D
o o
May 30 th. 1923.
Statement of Current Assets and Current Liabilities for Crop Year 1927
Current Assets.
Inventory as per Balance Sheet £1432 Boxes $ I7P499.63
Realized Value of abova
IB,060   Boxes 21^207.42
3 ,372     . . 5 ,896.93 -***&£jrf
Rebate  from-the Vernon Fruit Union 337.77
Rebate  from the Associated Growers 2,201*99
30,401   pounds  of Dehydrater Apples   1926 Crop 522.60
Rebate  on Fruit  Insurance 68.66
2915       pounds  of Bulk Apples   through- finfield 35.72
40           Crates  Macs,   to  Caesar &   100 lbs.   paper 64.00
Less  cost  of boxes  returned Bte« 262.09
10^075.00 _     „
Less   Inventory value as above 17.499.68         11*^^,7/
Increase  in value of  Invenvory as  per Balance Sheet I£,573.32         12.573.52
Realized Value of  Inventory of March I  st  1928. 30,073.00
<*? x_f<M*'
Accounts   Receivable as  per Balance Sheet 46,14
Cash in the Bank as  per Balance Sheet 2,239.27
Total  Current  Assets |  32,358.41
 — S^a t> J S,t>lA
Currant.  Liabilities
Accounts  Payable  as   per Balance Sheet 1,452.66
Vernon Fruit Advances as  per Balance Sheet 10,100.38
Wages  payable as per Balance Sheet 790.67
Excess  of Current Assets  over Current Liabialities 20,014.70
tf  ibtt- **'
Add to  this   the  payment made November 17  th 1927. 2,000.00
Total  surplus Cash for the Crop Year of 1927. f 22,014.70
*/tf¥->**>' 0
Statement  o^ Current,  Assests  anrl Current  Liabilities  for Crop Year 192
Inventory as   per Bal.   Sheet  Feb  1927.
I%736^box  es   packed Apples 15,333.60
estimated  Rebate   ^rom Associated 15312.05
Sstimated  Rebate   -°rom V.F.U. ^57.35                              17,533.00
Realized Value  of above.
13,736  boxes   Packed  Apples
4X9  crates  dummped Macs.
750  boxes  unlidded  Jons. 15,669.91
Actual  Rebate  from Associated 2,353.20
Actual   Rebate  From Local 435.62
Rebate   from Fruit   Insurance 74.68
Less  charges  made  against   192$ Crop.
Crates   ,loading.paper and  board . 214.75
Realize* Value o^ Inventory   (^~e^*^c <tf- J $>;A#) 19,373.66
Accounts Rec. as per. Bal. Sheet Feb. 1927
Vernon Fruit Union 2,318.21
Sundry 103.35
Total CURRENT ASSETS    . 20,795.72
Canadian Bank o^ Commerce 17,400.00
Sundry Accounts payable I,o22.45
Out Standing cheques 73.34
Wages . 754.11
Total CURHHTT LIABILITI33 19,255.40
Total Surplus Cash for the Crop Year of 1926 | ,1,540,32
( Sox Shook Inventory has not been treated as a Liquid Asset ) o
Administration. Costs for Crop Year of 1927
Feb.   23th.   1928,
Ooldisfs  V/ages   for the   year 2499.96
Ooldie's  allowance  for furnishing car &running    300.00
Expenses   to  Pentictin,   Interview iVater Comptroller?.00
Sxrense   to  Vuctoria,   Re  V/ater Oomptroler,
Auditor and Impliments 60.00
Expense to Toronto Nov. 1927.
. and. Expert advise $15.00
Phone Rental and extension
Phone Tolls
Stamps and Postage
Vernon News and Province
Safety Deposit  Box.
Allowance for Traveling expense J.^.McAllister 1000.00
R.3.Dormer     500.00
J.Goldie       5QQ.QQ
I 5370.72


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