COMPANY AFFAIRS.

Auckland Star, Volume LXVII, Issue 186, 7 August 1936, Page 4

COMPANY AFFAIRS.

AIR TRAVEL (NEW ZEALAND)

GREATLY IMPROVED POSITION-,

(By Telegraph.—Special to' "Star.")

CHRISTCHURCH, this day.

A payment of a dividend of 3 per cent is provided for by Air Travel (New Zealand), Limited, in the accounts for the year ended June 30. The balance-sheet shows a greatly improved position. . The report of operations reveals a rapid increase in the activities of the company. The directors' report states that the credit balance ill' the profit and loss account after providing f t or full depreciation of 'planes and equipment, income tax and a small debit balance; from the. previous iVeai of £2 8/9, was' £387 0/3. From this' the directors have utilised £100 to be written off preliminary expenses, and placed £70 to the creation of an insurance reserve. The dividend, absorbing £90, leaves £127 0/3 to be carried forward. During the year the company's 'planes made 2042 flights, occupying 992 hours' flying time. STANDARD INSURANCE. DIVIDEND 1/3 PER SHARE. The Standard Insurance!; Company's directors' report announces a' surplus on the year of £32,591. They recommend a dividend of 1/3 per share, the same as last year. . I