AMUSEMENT PARK, LTD.

Auckland Star, Volume LVIII, Issue 221, 19 September 1927, Page 4

AMUSEMENT PARK, LTD.

A SATISFACTORY BEGINNING.

The first annual report of the directors of the Auckland Amusement Park, Ltd.. for submission to the meeting of shareholders to be held on Monday, September 26, states that Luna Park was opened December 4, 1926. and phenomenal business was done right through into the new year. A good average was maintained also during the latter portion of January, also.in February. Reference was made to the fire, which, by destroying the tearooms, prevented running the same as a cabaret during the winter. When the Park re-opens about the end of October, it will present a much altered appearance, with its new and spectacular scenic river, caves, new fun factory, goofy house, joy wheel, the improved layout, ahd lighting. From a financial point of view, the directors consider shareholders are to be congratulated on their investment, the same having shown a substantial return on the capital involved. During the year a dividend of 25 per cent was paid on ordinary shares, while a 10 per cent interim was paid for the period of allotment, to January 31, on the preference shares. The directors recommend a dividend of 10 per cent on preference shares, and an additional 5 per cent, less' the interim dividend already referred to.

The profit and loss account showed total receipts £24.580 3/8, taking rentals from concessions, interest on deposits, and transfer fees. The expenditure was as follows: Salaries and wages £4934 13/8, running costs, etc., £1936 9/3; rent, insurance, advertising, etc., £3875 0/1; depreciation, £3418 10/8; balance net profit, transferred to profit and loss appropriation account, £10,415 10/.

Balance-sheet. The chief balance-sheet items are:— LIABILITIES. £ • Paid up capital 35.654 Sundry creditors 121 Provision for income tax . 1,500 ASSETS. Cash on deposit (with Auckland Gas Co.) 10,137 Cash In hand 852 Office furniture, etc 107 Structures and Buildings . 24,101 Preliminary expenses .... 2,827 The sum of £707 has been written off preliminary expenses.