LOAN AND MERCANTILE AGENCY COMPANY.
ANNUAL REPORT.
Press Association—By Teletrraph—Copyright London, December 13. The annual report of the New Zealand Loan and Mercantile Agency Company shows the gross earnings for the year to be £254,514, and the debit balance £28,393. The Auditors suggest that further large provision should be made for deficits in respect of properties and loans. It states that the debt due is inclusive of fifteen months' interest on prior lien " A " debentures, and if only a year's interest had been taken the account would have left a credit of £8207. The call had already produced over £500,000. Business was well maintained. £640,956 had been deducted from the book value of the assets to meet actual and contingent losses, and further large deficits would be dealt with in future. The Auditors report that £647,956 will not be sufficient, and a further sum of £847,940 may be required.
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Bibliographic details
Press, Volume LII, Issue 9289, 14 December 1895, Page 7
Word Count
149LOAN AND MERCANTILE AGENCY COMPANY. Press, Volume LII, Issue 9289, 14 December 1895, Page 7
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