DEVONPORT FERRY COMPANY.

Auckland Star, Volume L, Issue 169, 17 July 1919, Page 11

DEVONPORT FERRY COMPANY.

—< —■ THE ANNUAL REPORT. In their annual report to shareholders for the year ended April 19, the directors state that the profit and loss account, after making a small allowance for depreciation on steamers and plant, and for directors' honorarium, shows a net profit for the year of £1738 0/9, the balance brought "forward last year after payment of dividend amounted to £2860 4/11, ' making a total of £4598 5/8. An interim 1 dividend at the rate of 73 per cent per annum for the half year ended October ! 31, 1918, was paid, wnich absorbed £2240 ; 17/6, leaving a balance to credit of profit 1 and loss account of £2351 8/2. Your 1 directors recommend that a dividend at the rate of 7J per cent per annum be 1 paid to shareholders for the half year ' ended 30th April, 1919, -which will absorb 1 tbe sum of £2246 18/9, leaving a balance '• to be carried forward to next year's ' accounts of £104 9/5. During the year the 5 Northern Chief, used as a coal hulk, was ' advantageously disposed of. In aeoord- ■ ance ■with'the Articles of Association, Mr 5 E. 1L Coleman is the retiring director, and, being eligible, offers jhimself tor reelection. Messrs Thomson and Gray, the retiring- auditors, offer themselves for reelection. If approved, the dividend will be payable at the Company's Office, Quay Street, oa, and after Monday, July 28, 1919. _,--' -