COMPANY AFFAIRS.

Auckland Star, Volume LXIV, Issue 283, 30 November 1933, Page 4

COMPANY AFFAIRS.

TRADERS' FINANCE CO. SMALL PROFIT EARNED. NO ORDINARY DIVIDEND. The ninth annual accounts of the Traders' Finance Corporation for the year ended September 30 show a net profit of £2043. This, added to the balance carried forward from last year, makes a total of £2914. Out of this the directors have paid the preference dividend lor the half-year to March 31, 1933, of £954 and the directors' honorarium of £250. After making provision for income tax, £346, a balance of £1304 is left, out of which the directors recommend payment of the preference dividend for the half-year to September 30, 1033, which will absorb £954. leaving a balance of £410 to carry forward. Satisfaction is expressed by the directors that, notwithstanding the .difficult year experienced, sufficient had been made to pay a preference dividend and write down the debtors' account by over £2000. Owing to the slowness of improvement in conditions some of the old accounts had not eventualiscd as well as had been expected, and the. directors had therefore considered it wise to make provision for them. Reference is made iii the.report to the loss to the company by the death of Mr. C. M. Fenwick. The vacancy on the board had been tilled by the appointment of Mr. K. A. Craig. The retiring directors, Messrs. •). J>. Macfarlane and E. A. Craig, offer themselves for re-election. Following is a comparison of the company's results and appropriations for the past three years:—

1031. 1032. io::3. a e £ Brought forward r.u t 000 272 • Profit 2391 2057 2040 2955 2oVs7 231S Div., pref., 7 p.c. 2385 238", li)08t Carried forward . 000 272 410 ♦Alter deduction of income tax and directors' lees. , ~ fLess 20 per cent (statutory reduction. 'J'lie nominal capital of the company lias boon reduced during the year from £268,750 to £157,500, in 35,000 preference shaves of £1 each, as against 50,000 previously, and 140,000 ordinary shares of 17/0 each, as against 218,750. Assets include advances £SG,9G2 and farm property £12,275. DEVONPORT FERRY. USUAL INTKEIM DIVIDEND. The directors of the Dovonport Steam Ferry Co., Ltd., have declared an interim dividend of 2% per cent, an unchanged rate. Payment will be made on December