WELLINGTON INVESTMENT COMPANY.

Evening Post, Volume CXII, Issue 18, 21 July 1926, Page 11

WELLINGTON INVESTMENT COMPANY.

The balance-sheet of the Wellington Investment. Trustee, and Agency Company, Limited, for the year ended 30th June, shows that the income from interest, commission, and transfer fees totalled £14,254, against £12,628 in the previous year, an increase of £1626. Interest paid on deposits amounted to £6303, against £5519, and the expenditure under all heads aggregated £5097, against £7052, leaving the net profit at £6157, against £5570. To the net profit must be added £454 brought fotward from the previous year, making £6611. Out of this £600 has been set aside for income tax, £500 for property reserve account; there has been added to the reserve fund £1500, bringing that fund up to £24,700, and the dividend for the year at 6i_ per cent. (3 per cent, was paid as an interim dividend) absorbs £'1030, leaving £481 to be carried forward. The dividend is at the same rate as was paid last year. The items of the balancesheet, with those for last yoar in parentheses, are as follow:—Liabilities: Capital paid up, £62,000 (£62,000); general reserve, £23,700 (£2,1,700); securities depreciation reserve, £1000 (£1000) ; depreciation of property reserve, £1238 (£738); income tax reserve, £600 (£500); deposits, £137,654 (£124,206); investors' subscriptions, £1438 (£1096); sundry creditors, £350 (£1077); profit and loss, £3651 (£3624). Assets: Mortgages, £184,----104 (£166,302) ; interest due and accrued, £2656 (£2384); office furniture, £144 (£167); liquid assets (debentures, deposits, and bank balance), £40,205 (£43,079); trust account, £209 (£627). Total, £231,630 (£216,941).