COMPANY AFFAIRS.

Auckland Star, Volume LXIV, Issue 88, 15 April 1933, Page 4

COMPANY AFFAIRS.

UNION STEAM SHIP COMPANY.

ANNUAL BALANCE-SHEET

The balance-sheet of the Union Steam Ship Company of New Zealand, Ltd., as at September 30 last, shows that the ordinary capital of the company is held by the P. and O. Company, which receives a dividend for the year under review of only 4 per cent, which is the same as for 193031, and compares with 8 per cent per annum for 1924-25 to 1929-30 inclusive. The balanco at credit of profit and loss account, namely, £119,564, which includes the amount brought forward from the previous year, compares with £129,206 at the end of the previous financial year; £167,978 at the end of September, 1930; £162,121 at the end of September, 1929; £156,592 at the end of September, 1928; £119,214 at the end of September; 1927; and £115,695 at the end of September, 1926. The paid-up capital of £3,000,000, of which £1,000,000 is in ordinary shares, remains the same as at September 30, 1931; reserves, at £150,000, are also unchanged; insurance fund is lower at £883,537, against £890,123; and sundry creditors, etc., total £1,601,838, against £1,632,152. On the other side of the account, the fleet, payments on account of new vessels, and investments stand in the books at £4,972,996, against £4,857,021. According to Lloyd's Register, the company owns 54 steamers and three motor vessels, aggregating 199,709 tons gross, and averaging about 14% years of age. As, however, an unstated amount of investments is included in the figure mentioned, in addition to an unspecified sum in respect of payments on account of new tonnage, it is impossible to ascertain the value at which the vessels appear in the books of the company. Hulks, etc., coal, stores, land, and premises, at £556,564, compare with £630,440, and sundry debtors and cash now total £225,380, against £314,020. The share list is as follows:— 1,000.000 cumulative 5} per cent preference shares at £1 £1,000,000 1,000,000 cumulative 5f per cent preference "B " shares at £1 .. 1,000,000 1,000,000 ordinary shares at £1 .. 1,000,000 ■ £3,000,000