EQUITABLE BUILDING YEAR

Evening Post, Volume CXV, Issue 10, 13 January 1933, Page 9

EQUITABLE BUILDING YEAR

Ihe directors of the Equitable Building and Investment Co. of Wellington, Ltd! submit then- balance-sheet for the year ending 31st December, 1932. They express their regret at the, unsatisfactory position disclosed therein. "It will be noted," they report, "that, including the amount carried forward from last year, viz., £3031 ss. (3d, there remains to the credit of profit and loss the sum of £1325 5s lOd only No_ interim dividend was declared in June last, and under present conditions the board is not in a position to recommend a dividend for the past six months..V The balance-sheet is as follows:— Liabilities.—Paid-up capital (12.000 S]Tl at n £s)' £60,000; reserve fund, £70,000; Bank of New Zealand, £57,032 ius lid; deposits and interest and investors, £166,941 17s lid; sundry credit bal- % nce| (includes income tax provision), £4804 17s; profit and loss account balance; £1325 5s lOd; total £360,164 lls 8d Assets.—Mortgages and interest (less iioonm 6ecurlties depreciation account, £12,300), £333,382 3s 3d; sundry debit balance?, £401 5s sd; New Zealand Govern--so2ni. nScnbed Stock (at cost, face value 525,000 , £24,862 10s; freehold property, £1?18 13s; total, £360,164 lls Bd. The retiring directors are Mr. A. D Crawford and Colonel J: J. Esson, C.M.G., and both being eligible, they offer themselves for re-election. Messrs. E. Bucholz and W. S. Wheeler, the retiring auditors, also offer themselves for re-election.