THE NEW ZEALAND AND RIVER PLATE L.M. CO.

Auckland Star, Volume XXXII, Issue 21, 25 January 1901, Page 2

THE NEW ZEALAND AND RIVER PLATE L.M. CO.

A successful year has been enjoyed toy the New Zealand and River Plate Land Mortgage Company, whose net profit for the twelve months ended 31st October last was £30,400, an increase of over £ 3000 as compared with the previous year. The final dividend on the old shares is 3l per cent, making with the interim distribution. 6 per cent, for the year, while after distributing 3i per cent, on the new shares (10/ paid), and placing £IS,OOO to reserve, a balance of £900 is carried forward. The demand for mortgage advances in the River Plate was dull during the year, and the company's business in that quarter slightly decreased. On the other hand £10,500 was received in NewZealand from repayment of mortgages and sales of properties, which was in excess of the amount of, the official valuation last year, so.that the company made up in one part of the globe, for shortcomings in another.

In the directors' report it is stated that 122,315 new- shares of .£1 each were in .Tune offered to shareholders, and 102,0G3 of these shares were applied for and allotted. Ten shillings j>er share was paid on application and

allotment, and the remaining 10/ is payable on January 15. The reserve now stands at £143,000.