A DECIDED IMPROVEMENT.
At the.annual meeting of the Northern Boot and Shoe Manufacturing Company*, Limited, held at Auckland yesterday, the report and balance-sheet showed the* net • profit for the year to be £441, which, with? the balance from last year, makes a total of £2417 at credit of the profit and loss ac* count. Tha Directors recommended a dividend of 5 per cent, per annum, and 10 per 'cent. to. be written off for depreciation. The stock is reduced by £1352, and. the Company's liabilities are reduced by £1284. IntoOving the adoption of the report the Chai-inan said the Directors had pleasure ia meeting the shareholders under more favourable circumstances than had.been the J case for some years past. The Company's | liabilities on bills and accounts payable had been reduced, while, the loan on the property had been reduced from. £2000 fo £1750. The usual provision of £250 for doubtful debts bad been allowed, whilst all | known bad debts had been written off. i Since the formation of the Company £&_so J had been paid in dividends, averaging over j 3 per cent, per annum.
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Press, Volume LI, Issue 8898, 14 September 1894, Page 5
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185A DECIDED IMPROVEMENT. Press, Volume LI, Issue 8898, 14 September 1894, Page 5
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