MOSGIEL WOOLLEN FACTORY COMPANY, LIMITED.

Auckland Star, Volume LIV, Issue 267, 8 November 1923, Page 6

MOSGIEL WOOLLEN FACTORY COMPANY, LIMITED.

"JbONTjS OF TEN SHILLINGS A SHAKE. The fiftieth annual report of the directors «• of the Mosgiel Woollen Factory Co., to be presented lit a meeting; on November 13. ;, states: —"The proflt and loss account shows a balance (including the amount carried forward! of £15,067 0/6, after writing off £7500 for depreciation, adding £5000 to *■reserve, and providing a sum for income tax payable. The directors recommend that a dividend of 4 jier cent per annum and a bonus of '.'I per cent per annum be paid, •which will absorb £5482 0/0, leaving £10,125 ft/ to be carried forward to profit and loss for current year. The retiring directors, Sir John ltoberts, C.M.G., and Mr. P. G. .l'ryde, offer themselves for re-election, also '''the'audltors, Messrs. Peter Barr and David S Crawford. The . directors recommend that ''the sum of £11,022 10/ (part of the amount "'(Htandingr to' the credit of the reserve fund) .'should be capitalised by transferring that i>um to the credit of capital account, thus r. making the - issued shares of the company "paid -up to £4 per share instead of, as at .-.'present, to £3 10/ per share. In order to «■ effect this it: is necessary that an extra ■ "dividend by way'of bonus (In addition to the' ordinary dividend) of 10/ per share 'should be declared, and that a call of the ; ''eame amount per share should be made, ■~ ; botli extra dividend and call falling '' «lue on the same day. At the general meet- . ihg of the company resolutions authorising the directors to declare and make such .'-'fllTidend and call ivill be proposed."