COMPANY AFFAIRS.

Auckland Star, Volume LXIII, Issue 260, 2 November 1932, Page 4

COMPANY AFFAIRS.

ABRAHAM AND WILLIAMS. LOSS LAST YEAR. SHEEPFARMERS' DIFFICULTIES. A loss of £4786 has been incurred by the old-established firm of Abraham and Williams for the year ended September 30. The annual accounts just circulated show that the amount brought forward from last year was £11,372. Deducting this year's loss leaves a balance of £6586. From this has been taken the amount paid as dividend on preference shares for the six months ended March3l, leaving £4126 as the balance available for distribution. The directors recommend that this be carried forward. In their report the directors state: It is common knowledge that sheepfarmers who are the Chief clients of the company are having probably the most difficult times in the Dominion. Until; conditions are such that eheepfarming is again a profitable occupation, it will be difficult for this company to make profits." The retiring directors, Messrs. R. E. Beckett and E. H. Binney, are renominated. The following table shows the result of operations in recent years:— Dividends. Net profits. p.c. Reserves. & Pref. Ord. £ 1923 16,091 6 5 23,455 1924 j-. .. 20,774 6 0 28,743 1025 .... 21,452 0 5 34,708 1926 15,348 6 5 34,532 1927 .... 15,560 6 5 34,560 1028 .... 16,775 6 5 35,802 1929 18,355 6 5 38,625 1980 15,686 6 5 38,778 1931 8,321 6 — 31,872 1932 »4,786 3 — 24,626 ■ *Loss. , ' -

Chief items in the latest balance-sheet are as follows:— Paid capital, £294,240; reserve, £20,500; Bank of New Zealand, £63,424; sundrycreditors, £57,421. Assets.—Property, £61,530; sundry debtors, £350,943; merchandise, £0852; plant, £2129; shai'es, £5256. TO CEASE OPERATIONS. LIVE STOCK AUCTIONEERS. Formed last year, Associated Live Stock Auctioneers, Ltd., announced to-day that the company will cease operations as from November 30 next (says the "Wairarapa Times.") Thereafter the component companies forming the association will resume individual conduct of the live stock business.