COMPANY AFFAIRS.
N.Z. LOAN AND MERCANTILE. The financial editor of the '"Ernes" says in the issue of November 21, 1930: "In common with other companies engaged in trade with the Antipodes, the Sew Zealand Loan and Mercantile Agency Co. lias had a bad year. Its earnings for the twelve .months ended June 30, after meeting fixed charges, w;ere £76,551, compared with £179,716. Last year 8 per cent was distributed to'the ordinary shareholders; on the present- occasion the dividend is 4 per cent, but the whole of the amount required to pay it (namely , £40,000) is. found by a draught on the , 'carry forward/ which is reduced, from £58,412 to £12,463. _ ' *'As usual, the financial position of the company is one of great strength. The total of the balance-sheet is £6,367,740, of which, on the asset 'side, no less than £5,480,700 consists of floating assets. The largest items are secured loans and advances (£3,319,682), and current accounts (£1,153,207). Cash amounts to £210,198, and gilt-edged investments to £493,376. The current liabilities amount to only £1,355,278."
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Auckland Star, Volume LXII, Issue 2, 3 January 1931, Page 4
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173COMPANY AFFAIRS. Auckland Star, Volume LXII, Issue 2, 3 January 1931, Page 4
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