KAIAPOI WOOLLEN COMPANY.

Evening Post, Volume LXXXII, Issue 49, 26 August 1911, Page 9

KAIAPOI WOOLLEN COMPANY.

THE ANNUAL MEETING. ! CHKtSTCHURCH, &sth August. | The annual general meeting of share- j holders of the Kaiapoi Woollen Manufacturing Company was held at the company's offices this afternoon. TII9 direct- i oi'r' annual report stated that shortly, after the last annual meeting applica- ! tions had been received for the reinaindet of _ the «haf« unallotted.- The full authorised capital of the company had now been issued, and was nearly all paid up. The flew' articles, as approved at an extraordinary general meeting, had been in operation during the year. The result of the year's operations had left a balance to credit of profit atid loss account sufficient to enable the directors to recommend the usual allocations. As usual stocks had been carefully taken, a-nd all known bad debt* written off. The properties and- plant were in good condition, the sum of £1782 having been expended in repairs, and £4000 provided for depreciation. The profit and loss account, after payment of interim dividend* of £5294 18s 9d. showed an available- surplus of £11,172 2s. which the directors recommended should be allocated as follows :— £7550 18s for payment of dividend, making for the year 7 per cent, on ot dinary and 6£ per cent, on preference shares ; £1500 to reserve fund, and the balance, £2121 4e to h& eafied forward. The report was aaopted. .