NORTHERN BOOT AND SHOE COMPANY.

Auckland Star, Volume XXIX, Issue 206, 1 September 1898, Page 9

NORTHERN BOOT AND SHOE COMPANY.

The annual meeting of shareholders in the above company was held this afternoon at 3 o'clock in the office, Hobson-street, when Mr George Winstone presided. The directors' report states that the net profit for the year amounts to £607 lis Cd, and with the net balance brought forward from last year, makes a total of £2505 15s 9& at the credit of the Profit and Loss Account. . The directors recommend the payment of a dividend at the rate of live per cent, per annum. The usual ten per cent, has been written oft' the total amouut of Plant Account for depreciation. Two directors, Messrs J. L. Wilson and C. B. Stone, retire by rotation, but Mr C. B. Stone offers himself for re-election. Mr J. L. Wilson having decided not to seek re-election, Mr Jas. Heron will be nominated for election to till the vacancy. Mr Charles A. Jonas offers himself for re-election as auditor. Balance-sheet for year ending July 31st, 1808: — Dr.—Capital and Liabilities. —To 15,000 shares at £1 each authorised, £15,000; .less 2378 shares unalloted, £3378; to 12,022 shares at £1 each, subscribed, £12,022; less capital uncalled on 12,G12 shares at 4s each, ten shares being fully paid up, £2522 S.s; £10,099 12s; less* calls unpaid on 222 shares at 2s Gd, £27 15s; to capital paid up to July 31st, 1898, £10,071 17s; to bills payable, £3614 5s Id; to accounts payable, £352 5s 3d; to dividends unclaimed, £18 19s Od; to loan on property (less part repayment, £250), £1250; reserve for doubtful debts, £500; to additional reserve, £250; balance at credit of Profit and Loss account, £2505 15s Cd; total, £18,023 2s 4d; to contingent liability ion bills under discount, .i_3lsG 5s lid.

Cr. —Assets.—By freehold property, £8400; by bills 'receivable. £718 12s Id; by accounts receivable, £-1021 lis; by cash at bank, £224 9s lid; by cash in. hand, £30 lis 2d; by plant and machinery, £1181: by additions and improvements, £371- 2s; total, £1555 2s; less sales, £.. 13s Gel; £155] Ss fid; less for depreciation, £151 8s G; £1400; by stock" of materials, boots, etc., £8221 ISs 2d; total, £ 18.02.') 2s 4d; by bills under discount, as per contra, £3510 5s 11(1.

Profit, and Loss Account. —Dr.—To advertising, travelling, general trade charges and repairs, £1275 14s Od; to discounts and interest, £290 4s od; to bad debts, £154 12s lOd; 1o depreciation on plant, £151 Ss Gd; balance, £2565 15s Gd; total. £4437 IGs.

Or.—By balance last year. £3788 . o.s Tel: less dividend at five per cent, and honoraria. £570 19s 7d: £2208 4s; less transferred to reserve for doubtful debts, £250; by transfer fees, i.l 12s Gd: by gross profit on manufacture and sales, .12477. 10s Cd; total, £4437 10s. i