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The Pamphlet Collection of Sir Robert Stout: Volume 74

Mr Cook Recalled

Mr Cook Recalled.

W. R. Cook, recalled, was understood to say that if he valued the accounts to-day he would certainly value them higher than he had done. In the case of doubtful accounts, where a man had 300 acres of oats and 30 bushels to the acre, instead of taking them at 1s 3d he would take them at 1s 7d or 1s 8d per bushel, and so the doubtful debts would be considerably improved; but then they must take into consideration that if they forced the market they would probably cause a fall. It was a very difficult point, but he must say that if he made a valuation to-day he would have to take the market rates to-day as he did then.

Mr MacGregor: Can you give an estimate, approximately, of the difference it would make in your statements ?

Witness: About £5000 difference. This is only partly guesswork. I do not want to be definite in this. That would be in the statement. Whether in realisation you would get this is a different thing, because in forcing the market you would probably cause a fall. Guanos have been mentioned. They would be affected the other way. They have gone down, but the proportion is not so great.

Mr Young : Approximately in the same way what would the difference be—£500 ?

Witness : I should think so.