KAIAPOI WOOLLEN COMPANY.

Auckland Star, Volume XXII, Issue 248, 19 October 1891, Page 5

KAIAPOI WOOLLEN COMPANY.

The following is tho fourteenth annual report of the directors to be presented at the annual general meeting of shareholders, to be held at (Jhristchurch, on Friday next: —

The policy initiated by your directors two years since, and referred to in their report of that date, has been fully justified by the results now submitted to you. Tho labour difficulties mentioned last year, have, it is hoped, been amicably arranged, and the changes made in the management have proved satisfactory. By the demand for manufactured stock your directors have succeeded in largely reducing the outside liabilities of the Company. The losses incurred in closing the Sydney warehouse have been fully met from current profits. Property account has been increused by the purchase of premises in Chrietchurch at a satisfactory price, thereby providing rooms for dining and additional work. The profit and loss account shows the amount of £11,236 Is Id to credit, from which £2,872 has been taken for depreciation on plant and buildings, this sum being equal to five per cent, on the whole of the property of the Company. £3,500 was paid as an interim dividend to 31st March last, and your directors now recommend a dividend of 4£ per cent, for the half year to 30th September, making together 8 per cent, for the year, and to carry forward the balance tonewaccount. All known bad debts have been provided for. The directors retiring are Messrs W. R. Mitchell and W. Strange"; who are eligible and oiler themselves for re-election. The auditors, Messrs W. Eckersley and J. Harold Evans, also offer themselves for re-election. BALANCES-HEET. LIABILITES. DX. & B. d. To Nominal capital :— 40,000 Snares of £5 each -. 200,000 0 0 Less Unallotted— 20,000 shares of £5 „ .. 100,000 0 0 ,100,000 0 0 Mortgage ' b.OOO 0 0 Outstanding accounts and deposits -. 7,350 19 5 Bills Payable und Eank of New Zealand 5,312 12 1 Unclaimed Dividends .. .. X 5 11 Keserve Fund 7,000 0 0 Balanco of Profit and Loss Account 8.361 1 1 teas Interim Dividend paid 3.500 0 0 4,864 1 1 £120,541 18 6 ASSETS. Cr. £ S d By warehouse property and factory plant 11,553 19 G No. 2 clothing factory property.. 2,053 V 3 Kuiupoi buildings and plaut .. 43,834 4 6 57,441 11 3 Less depreciation _ „. 2,872 0 0 54,569 11 3 Sundry debts 16,166 6 11 Bills receivable 584 15 6 Cash in hand 379 19 9 Stock and material 57,841 5 1 £129,5-11 18 6 STATEMENT OF PROFIT AND LOSS ACCOUNT FOB YEAR ENDING SEPTEMBER3O,IB9I. Dr. £ s. d. To depreciation on plant and buildings 2,872 0 0 Fire insurance, interest and discount .. 4,937 4 9 Salaries, travelling und general expenaes. property tax, etc. 9,371 17 1 Interim dividend to 30th .March, 1891 3,500 0 0 Balance 4,864 1 1 £25,595 ill Cr. By manufacturers' and warehouse accoxiuts 25.557 9 2 Transfers .. ... ~ .. 713 9 £25,595 2 li H. A'Court, Secretary. We have examined the cash and bank books, together with vouchers for expenditure ; also compared balances as shown in ledger, and stock lists certified to by the manager and secretary, with this balancesheet, and found them in accordance therewith and correct. J. Harold Evans, ) . ~. Wμ. Eckersley, \ A ™itor 3 .

Amongsb the clergy present ab the Diocesan service at St. Mabthew's Church this morning, were three priests of the Chaldean church, ab presenb on a visit to Auckland. They bear a letter of introduction.from the Bishop of Sydney which recommends them to the Bishop of Auckland (Dr. Covvie). Their mission is the collection of funds for a church and school at Messapotamia. They propose to remain in Auckland for about a week, and then proceed South.

A civil case was heard at the Police Court this morning , before Messrs E. F. Tizard and W. McCullough, justices. William Edward Giles was the plaintiff and George Marshall defendant. The claim was for 6s 7d, balance of an account due. Mr E. W. Burton appeared for the plaintiff. Defendant's evidence was put in, having been taken ab the Thamos. The case arose out of some cases which defendant alleged ne had returned, but which plainbiff had not received. Plainbiff deposed thabhe had made five applications for the boxes, bub they had not arrived. The Bench gave udguaenb for the plainbiff with costs.