NEW ZEALAND LAND ASSOCIATION.
In their report for the year ended 31st March. 1012,' the directors of tiie New Zealand Land Association state that tho trading for the year and interest received resulted in a gross profit of £-6,532. The management and other charges, including incomo tax,-amount to £2920, and tli« interest on debenture stock to £1-1,267. After deducting those sums, there remains a balance of profit for the year of .£19,339. which is increased by the amount brought forward from the previous year. namely, £21,<>_0 J to £40,909.* Of this amount the directors recommend that the sum of £9793 be applied in payment of a dividend of 5 per cent., free of income tax, and the balance of £31,1-1 carried forward.
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Press, Volume XLIX, Issue 14564, 15 January 1913, Page 11
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122NEW ZEALAND LAND ASSOCIATION. Press, Volume XLIX, Issue 14564, 15 January 1913, Page 11
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