PROPOSAL TO WIND-UP

Evening Post, Volume CX, Issue 50, 27 August 1930, Page 12

PROPOSAL TO WIND-UP

J. WISEMAN AND SONS, LTD.

Directors oE Messrs. J. Wiseman and Sons, Ltd., trunk, bag, and suitcase makers, Auckland, have called an extraordinary .general meeting of shareholders for 2nd September, to consider, and if thought fit, to, pass the following: "That it has been proved to the satisfaction of this meeting that the company cannot by reason of its liabilities, continue its business, and that it is advisable to wind up the same, and accordingly that the company be • wound up voluntarily." The directors report with regret that a 1 loss is again showed on the year's trading. Depreciation on plant and equipment has been- made, together with, the .customary provision for bad and doubtful debts. This last item accounts for £1778 of the net loss shown ,in the accounts. - Professor Segar, one of the directors, retires by rotation, and offers himself for re-election. The profit and loss account discloses a net loss of £2991 17s lOd. The liabilities include: Paid-up capital, £47,374; debentures, £5900; bills payable, £7582; sundry loans, £1200; sundry creditors, £1414 3s; loans on mortgage, £13,225; bankers, £29,223 Is. Assets include: Land, buildings, plant, machinery, fittings, and motor-cars, .£15,100; bills receivable, £3798; sundry debtors, less reserve for bad debts and discounts, £11,857; stock on hand, £34,602; loans on mortgage, £2050; shares in other companies, £21980; debentures in Brunswick buildings. £0500. Balance at profit and loss, 30th June, 15)29, was £3565 3s Id; loss this year, 1930, £2901 17s lOd.