SHARLAND AND CO. (LIMITED).

Auckland Star, Volume XXV, Issue 32, 6 February 1894, Page 2

SHARLAND AND CO. (LIMITED).

ANNUAL MEETING.

The annual general meeting of shareholders ln the above Company was to have been

held at 3 p.ta. yesterday, bat a quorum not eing present, was adjourned until next Monday at the same hour. The annual report and balance-sheet are:—ln submit ting their fourth annual report and balance sheet, the directors have pleasure in stating that the result of the past year's business has, been satisfactory. There has been no great activity, but business has been etaadythroughoutthecolony. Thenew building at Wellington, referred to in last year's report, has been completed and occupied. It is anticipated that the increased accommodation afforded for the storage and display of goods will result in enlarged sales, without material increase of expense. In consequence cf ths improving demand for goods manufactured and prepared by the Company, the premises-in Coburg-street, Auckland, used as a factory and laboratory, were. found to be too small for the Company's requirements. Your directors, therefore, purchased two adjacent allotments, and erected suitable buildings thereon. These commodious premises now afford ample room for all present purposes. After writing off bad debts, depreciation of plant, and £1,000 from patent: and proprietary rights, there remains a earn of £2,489 8b 4d, from which your directors recommend the payment of a dividend of 8 per cent., absorbing £2,389 5s 7d, leaving a balance of £100 2s 9d to be carried forward to new account. The retiring auditors, Messrs Charles A. Jonas and Henry Goulstone, ofier themselves for re-election.

The balance-sheet, including Wellington branch, at 30th November, 1893, is as follows :—Capital and liabilities : Capital authorised and subscribed 50,000 shares at 20s per share, £50,000; capital called up on 50,000 shares at 12s 6d per share less calls unpaid, £1,384 0s 3d—£29,865 19s 9d ; capital paid in advance, £431 5s ; loans and debentures, £10,684 14s 7d ; open liabilities, bills payable and amount due to the Bank, £27,234 Is 4d ; dividends unclaimed, £2 2s 9d ; interests accrued, £95 Is lOd : profit and loss account, £2,489 8s 4d. Total, £70,802 13s 7d. Contingent liabilities on bills under discount, £8,847 4s Id. Assets: Stock on hand £33,7243s lOd ; books debts, £14,524 5s Gd; plant and fixtures, £2,792 8s 8d ; leasehold and freehold properties, £9.509 2s sd; caeh in band, £21 5s : bills receivable, £472 8s 2d ; patent and proprietary rights, £9,759 (less amount written off, £1,000). Total, £70,802 13a 7d. Bills under discount per contra, £8,847 4s Id.

Profit and Loss Account, for the year 'ended 30th November, 1893. — Profit: Salaries, interests and discounts, rent, rates and taxes, and general expenses, £14,68819s lOd ; bad debts, £1,086 18s 6d; written off patent and proprietary rights, £1,000; balance, £2,489 8s 4d. Total, £19,265 6s Bd. Loss : Balance, £2,736 11s 4d ; (lesß dividend at 8 per cent, declared February 6, 1893, £1,027 4s 5d)—£1,709 6s lid; 1893—November 30—Gross profits, £17.555 19s 9d. Total, £19,265 6s Bd. 1893 —November 30—Balance, £2,489 8s 4d.