COMPANY AFFAIRS.

Auckland Star, Volume LXIV, Issue 252, 25 October 1933, Page 4

COMPANY AFFAIRS.

AFFORESTATION, LTD. LIQUID ASSETS INCREASE. The tenth annual report of Afforestation, Ltd., for the year ended .Tuly- 31, states that the balance-sheet reveals a very satisfactory position, showing that during the year ended July 31 the company's liquid assets have-increased substantially. In spite of difficult times, those shareholders ' who are in the course of paving for their shares have kept up payments very well, and this is xeflected in the increase of liquid assets. The net premiums'on shares for the year amounted to £1610 and, as in the past, this amount has been credited to development account. The maintenance costs for the year were„ again less than the estimated figure, and a net increase of £107 .is shown in the development | account for the year. A further area of 65 acres of the comI pany's land which was not required for development purposes was sold at a satisfactory figure, and the mortgages receivable have been increased by the sale of this area. The question of the realisation of the afforested urea is being kept before the directors. | The retiring directors, Messrs. W. Fraser land A. McKenzie, offer themselves for re--election. | Chief items in the balance-sheet are: — Liabilities: Paid capital, £39,654. Assets: Land £7303, development account £28,128, investments £950, mortgages £1000, reserve fluid £3872.