NEWTON KING, LTD.
The annual report of Newton King, Ltd., just issued,-states that owing to accounts reflecting the year's difficult conditions the directors regret to recommend payment of a dividend on either ordinary or preference shares. The depressed trading conditions which prevailed during the year under review resulted in considerably reduced earnings, but the directors had made strenuous endeavours to adjust the company's affairs to the fullest extent possible to meet the changed circumstances. With conditions existing as they do today and with no definite recovery in sight, the directors reviewed the company's assets on a conservative basis, and every effort had been made to, strengthen the position of the company to meet the drastic fall in values. A balance of £7700' brought forward in the appropriation account has been augmented by £3547, being the net amount brought down from the profit and loss account as a result,of this year's trading, making a total amount of £11^247 available. This amount . the directors have dealt with by transferring £10,Q0tt to general reserve account and carrying, forward £1247.
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Bibliographic details
Evening Post, Volume CXII, Issue 17, 20 July 1931, Page 12
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176NEWTON KING, LTD. Evening Post, Volume CXII, Issue 17, 20 July 1931, Page 12
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