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Rainbow Ranche Collection

Letter from J. E. [John Edgar] McAllister to Mr. [James] Goldie, July 15, 1916 McAllister, John Edgar Jul 15, 1916

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 o o
15   KING   STREET   WEST
TORONTO
July 15th, 1916,
Jas. Goldie Esq, ^^>%
Rainbow Eanch,
Okanagan Centre, B.C.
Dear Mr. Goldie:
RE RAINBOW RANCH.
W.I.IIIIIWII I  ». HTH—1 n ii 111     » mi   1. mil 11    iriW
With regard to the annual statemeiite as forwarded by you, they are
§uite comprehensive, and it seems to me very well planned.     I find it 0
little difficult to make comparison between thorn and the statements of the
previous year, and hope we have now got to a settled form of turning this information out so that we can keep track of our progress.
To me it appears from the statements that the liabilities have increased by $2,6?7.979  while the statement of capital expenditure shows an
addition of $685.43.    I take it therefore that the difference is lose in
operation.     This may not be correct, as I note in the statement of receipts and expenditure that the actual excess of expenditure over receipts
«ffcB $732.3*1 of which $1,362.30 was interest on shareholders• advances, which
is merely entired in the books without being paid.     I gather that you
therefore took in during the year more money than you actually paid out.
The fruit crop statement is clear and concise, and you seem to have
made a considerable reduction in the cost of packing.
T had hoped to get out there before this and go into these statements with you personally, but cannot see the way clear to come now.   For
one thing there is the expense, and in addition it would be impossible to get
away at present.
I note what you suggest in regard to transferring $829.64 from
general development to profit and loss, but I do not think we should change
the system that we all three agreed upon, until we can get together with Dormer
again.     Your suggestion that Dormer and I put up more money is noted, and
I would like to get his ideas on this.    Personally I can put up nothing at
the present time, and hope you will be able to work out the situation without
doing a permanent injury to the property.
Please let me know whether you would like typewritten copies of the
annual statement you have forwarded to me.
As soon as I can get out to see you, will do so, but in the Meantime
will be anxious to hear how you are getting along.
Yours very truly,
JEM/T

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