WELLINGTON MORTGAGES, LTD.
Wellington: Mortgages, Ltd., reports that the prevailing financial depression'has • resulted in"'a; reduction of net profitearnted during the past period as compared withthe previous year./ Capital has been increased by £1532 >Is Id," and ' deposits amounting io -£4971 14s: Id -have been re--paid. -Loans on .mortgage amount to £42,855 16s, and, preliminary expenses remain unaltered.. Realisations o£ properties to,the value of £1581 7s 7d were made during., the period,. but .these. are revenue-producing, and will be sold when a favourable opportunity offers. Total in-, come from, interest and premiums duringthe period was £2599 13s 3d, and net profit £2045 6b 4d, to which must' be added: £71 10s 4d brought forward from' 'the 'previous year. After: deducting' £300----reserved for income "tax there remains, a balance of -£1816 16s Bd.- The directors recommend payment of a dividend at,the irate of 5 per cent, per annum for the eleven' mouths-period. This will.absorb. '£1752 12s 6d, leaving a balance of £64 4a 2dvto carry forward. Messrs. S. S. Dean, and F. Me'adowcroft, retiring directors, offer themselves for re-election.
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https://paperspast.natlib.govt.nz/newspapers/EP19311210.2.119.12
Bibliographic details
Evening Post, Volume CXII, Issue 140, 10 December 1931, Page 12
Word Count
177
WELLINGTON MORTGAGES, LTD.
Evening Post, Volume CXII, Issue 140, 10 December 1931, Page 12
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