LAND COMPANY'S LOSSES.
The New Zealand and Australian Land Company, Ltd., Edinburgh, reported for the year ending 31st March, a net loss of £104,796, as compared with a profit of £250,196 for the previous year, and £ 1155,----267 fo--: the year before that. But shareholders received a dividend of 4 per cjnt. for the year, against 8 per cent, for the three previous years. This was made pjssible tlnough the conservative policy, auopted by directors in years gone by. Although nothing was set aside since 1925 the company has, good reserves. The directors took £120,000 from contingency reserve, and, after paying the final ordinary dividend, there was £6204 carried forward. The directors reported a further serious decline in the price of wool. The average price realised was £16 17s 7d per bale, compared with £27 6s 3d last year. The clip totalled 22,441 bales, being a reduction of 731 bales.
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Evening Post, Volume CX, Issue 148, 20 December 1930, Page 12
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149LAND COMPANY'S LOSSES. Evening Post, Volume CX, Issue 148, 20 December 1930, Page 12
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