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Rainbow Ranche Collection

Letter from Rainbow Ranche to Helliwell, Maclachlan & Co., January 19, 1932 Rainbow Ranche Jan 19, 1932

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 o
Jm .   19th 1932.
Messrs. Helliwell, Kaclachlan & Co.
§26    Seymour street.
Vancouver, B,".
Dear Sirs   :~
We thank- you for your letter of Jan. 4th. with
a cor^y of the letter from the Inspector of Income Tax dated
Dec. 11th.
fa would like to arrive at the amount which the
fax Office would consider to be exempt under the Act.
Would it be possible for you to obtain this figure for us ?
Enclosed you will find a statement showing the
advances to 'Thareholdera and Surplus balance from year to
year.
during the period cove re 1 by this statement there
have been several items written off by usf but which were
disallowed by the Tax Office. The Surplus as shown on
their files will no  doubt be several thousand greater than
ours.
i'e think that some time a50 you statel that th©
Surplus or Advances prior to 1925 or 1926 could not be attacked
by the Tax Office so long as we do not liquidate the 'Company.
Could you give us the facts in regard to this ?
If we go ahead with the reorganisation we would
like to have your advice.   rlease let us know when you
expect to have any of  your men in the 9kanagan.
Yours truly.
The Rainbow Eanche  Ltd..
Mgra

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