Union Sash and Door Company.

Auckland Star, Volume XVIII, Issue 25, 31 January 1887, Page 3

Union Sash and Door Company.

Annual Meeting of Sharohohtcra,

Tiu: annual meeting of ehaveholdoro In tia above Company was ho!d at 2 o'clock today. Thero was a largo attendance of blhu'oholders, Mr W, Waro being in tbo chair. I'nroKT. — The following report snd balaoco-shect was read,—"Tho di.cctord submit UlO balanee-sheot and profit and less account for tho year ended 31st Dtc:mber, ISBG, aud regretbeing obligod to ehovi* a large deficiency. This is occasioned by the depreciation in value of oawn and dreseod timber sticks, an amount which has been written off Log stocks, und the large amount thoy have- had to pay as interest on indebtedness. Mr E. Mitcheleon, tho Director who retires by rotation, is eligible, and is a candidate for re • election. Messrs T Laigh Wbito and A. Boardman tho retiring Auditors, are oho eligible, and offer themuelvas for re-election."

Dr. : Doo 31,1888.—T0 capital, 10 000 staaroß at £5, £2C0,W0 (ieaa unalioitcd sharet), £51,1^5; les3 nncatd aills. £80) -£ I is. 705 ; debentures, J. 20.01 n ; bills payable, £12,637 IS< fd; creditors, tiSi'Ml 5s lid. Total, £.SIX'S Is 7.1.

Cr.: Doc 3], 18SS.—By mills, plant, properties, booms, diiniß, timber rlfrhis, vossols. etc.. £137 821 8.18.I; les3dn(ireci:itloo3. 010.. «5,319534 d ; *.toolf, lnso. sawn ttmbur. Btoros, etc., £58.285 fit 9.1; debtors, £1!) 690 1U 5d ; JOBB riiao'Mints, £510 Ub 11; bills receivable in liand, £130 He til; cash in band. £'.'l3 1)3 Gd ; proilt and lofs accuunt, £16,029 13a 1(1. Total. £25i.525 Js 7<i. Profle nud Logs account:—Ur.: Docombcr 31, and' taxc3, £1,620 la id ; sklariis, bud debts, oflico expenses, law exrensrs, etc , £3,185 Os Ud; intcrooc, £7.030 10a 7d: lreurnnco premiums. £1.1.08 lla lOi : total, £28,03 l 13s Id. Cr.: Decembar 31, ISSc.—liy balanuo £rom last j car, C\ 760 lta Gd; December 81,1866: Amount recovered from bad debts, «1.0 is lrt ; grosß prolHe, £7,165 2* Id ; prolllsou vesaelb' workings £1U )2s 3d ; transfer fees, £7 lft); oommiaeious ana routs. £513 IGs; balance—loss. £IG.OM) 123 id. Totil; £58,031 Via id.

The Chairman in moving tho adoption of the report stated that the great balanco on wrong side of tho lodger was mainly duo to tho great depreciation in the value of timber and the almost total cessation of tlio building industry. Ho then spoke upon the probability of a new market for kauri being opened in England, snd also upon tbo possibility in tbo near future ot calling tho shareholders together to consider tho advisability of reconstructing tho Company.—Tho report was socendod by Mr Upton, and adopted without discussion. Election of a Director.—MrS. Mitchelson, the returning director, was re-eloctod unopposed. Auctions.- Messrs R. Upton and A. Boardman were elected auditors for tho ensuing year.