NEW ZEALAND PAPER MILLS
The directors o£ tße New Zealand Paper Mills, Ltd.,! report for the year ending 31st March that, after making provision for all bad and doulStful debts, and providing for depreciation on plant, machinery, and stocks, the balance of profits for the year amounts to £6356 12s 4d. Adding to this the balance at end of last financial: year, £1431 14s 7d, the total is £7788 6s Ud. Deducting interim dividend paid on 29th October, 1915, £2369 7s 6d, there is left available £5418 19s sd.
The directors recommend that this be dealt with as follows :—Payment of dividend at the rate of 3^ per cent, for the six months (making 6 per cent, for the year), £3317 2s 6d; addition to re serve fund, £1000; carry forward, £1101 16s lid. The business of the company has, despite the abnormal conditions existing during the year, been well maintained, though the shortage of raw material has at times caused some concern.
The retiring director, Mr. W. F. Edmond, is eligible, and offers himself: for re-election, as do the auditors, Messrs. Barr, Leary, and Co., Dunedin, and Mr. W. Wallace Bruce, Auckland.
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https://paperspast.natlib.govt.nz/newspapers/EP19160508.2.16
Bibliographic details
Evening Post, Volume XCI, Issue 108, 8 May 1916, Page 2
Word Count
193NEW ZEALAND PAPER MILLS Evening Post, Volume XCI, Issue 108, 8 May 1916, Page 2
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