SHARLAND AND CO.

Auckland Star, Volume L, Issue 251, 22 October 1919, Page 9

SHARLAND AND CO.

ANNUAL REPORT. In presenting the balance-sheet and profit and loss account tor the year ended August 31, 1010, the directors ot Sbarlnnd and Co., Ltd., report 11 continued Increase in the business. After making .provision for all bad and doubtful debts, mil depreciation at premises aud p.aut, payment ot interim dividend, mid transfer to reserve fund of £3.500, there remains a balance of £12,775 19/1 to be dealt with, including £6,995 7/8 brought forward from last year's account. In accordance with the announcement last year, the addition to reserve fund is shown, in the balance-sheet Instead of Jn that for the succeeding yea-is a« .previously. The directors recommend tippi-opilatiou a s follows:—In payment of dividend, 7i per cent for the year, less interim dividend of 3J per cent paid May 1, £2,512 10/; Jn payment of special dividend of Od per share from profits earned hy reserve fund, £1,575; to cairv forward to next year's account,' £S.OSS 9/1: total, £12.775 19/1. A subscription of £2,000 -was made to the Victory War Loan. 1919. making the hoMln- of War Uuin .Stock £11,500. In addition, a further £S.soo_lms been arranged through lite Australian Mutual Provident Society's s-eheme of employee insurance. The tliatiks of the shareholders are due to the secretary, nr.ina.gers. and staff for their excellent work during the year. Opportunities have been given to all mem-liers of the stall' returned from the war to be reinstated in the sen-Ice. nnd suitable war allowances have been nvid-e. In terms of the 'Articles of Association the retiring director is Mr. A. E. Mahln. who, being, eligible, offers himself for re-election. The auditors (Mr. James W. Jack, in Welling j ton. ne<i Mr. Alex. Grierson. in Auckland) i offer themselves for re-election, and there j are no other nomination*. !

The following resolution, proposed by Mr. Limn, was passed at the Navy League social last evening: " That on this, the 114 th anniversary of Nelson's great victory, the Auckland branch of the Navy League expresses its keen sense of the weight of the British Navy, nnd of its power for good in maintaining the peace of the world, and further expresses the hope that before many months have passed our Dominion will I have a New Zealand unit of the British Fleet in its own waters." j