BANKS AND COMPANIES

Auckland Star, Volume XXV, Issue 237, 4 October 1894, Page 5

BANKS AND COMPANIES

Shareholders in the reconstructed Tiinaru Farmers' Co-operative Association met on Saturday, September 15th, and the directors submitted a balance-sheet for ten months, showing a credit balance on profit and loss account for the period of £1,059, and stated 'that, con'sid'erißg tl\o bad season and the depression in trado, the result is less unsatisfactory than might have been looked for. They pr9posed to pay 6 pfcr cents; otf capital pgicf tip. t£l5;9QO) in the new Company, and carry the balance forward. The meeting was satisfactory. ■

The report to be submitted at the annual meeting of the Southland Farmers' Association, to be hold at Invercargill on October 20th, shpws that for twelve monbhs after providing for all expenses and bad debts an amount is available for distribution of eeven thousand seven hundred and seventy-eight pound?. The shareholders will receive a dividend of 10 per cent, a rebate of twenty-five per cent, oft" selling charge nnd two and a-half per cent bonus on goods purchased. Five per cent on salaries is paid as bonus to tho staff.

The annual meeting of the Northern \Boot and "Shoe Manufacturing Company (Limited) was held on Sept. 12th ac the officQof the Company, Lower Hobaon-street.* Mr Geo. -Winstone (Chairman of directors) presided. The report and balance-sheet showed the notb profit: for the year to be £441 8a 3d, which, together with the balance from last ' year, make 3 a total of £2,417 9d 6d at credit of profit and loss account. The directors recommended the payment of a dividend at the rate of 5 per cent, per annum, and the usual 10 per cent, had been written off plant account for depreciation. The stock had been reduced by £1,352, and the Company's liabilities reduced by £1,284, £250 of this amount being in further reduction Of mortgago on the factory premises. Tiio retiring directors were re-elected, and Mr C. A. Jonas was re-elected auditor. The reports were adopted.