CO129-258 - Governor Sir Robinson - 1893 [1-4] — Page 590

Comment if the expenditure

of

Stores

against

on account

the several votes

for Public Works is to shew approximately the true value of the stores used in

the works.

This undervaluation is due

to two causes, first,

the

heavy fall

in the Crown Agents' exchange rate viz: from 1s 2d to 9.9734,

same

to 9.9784, and secondly

to the necessity of as far as possible keeping all articles of the description when placed in store at the same prices which involves on

exchange (assuming sterling cost of the article

cost of the article is the same)

a

falling

of

an undervaluation of the latter con-

signment.

7.

On examination I find the

main deficiency has occurred in the valuation of the stores off-rineds for the Central Market and for drainage of the City of Victoria.

As

the

His Excellency's materials will ultimately be actually used in these works I submit that the adjustment

should be made.

Votes obtained this

by debiting

the

these year's works with the amount of the under

valuation

The adjusting

of

this course is

entries will be

approved

Central Market $310.09 and

Drainage City of Victoria

$114.50.

The d'ebtance account House service and Water account require

little explanation as will be seen

the profit

The former is $2,046.03

the balance to the credit of the

Neglecting

the

carried

latter is $80,152.55".

In accordance with the valuation

of taking

to credit of this account under section 16 of Ordinance 16 of 1890 the net pro-

fit for the year's working is $7,752.55.

I have (Signed) F. H. Cooper,

Colonial Secretary.

Director of Public Works.