TRUST AND LOAN

Evening Post, Volume CXV, Issue 11, 14 January 1933, Page 14

TRUST AND LOAN

DIVIDEND DECLARED

The Wellington Trust, Loan, and Investment Co., Ltd., directors report for the year ended 31st December, 1932, that . the sum to the credit of profit and loss on ■ the year's working, together with the : amount of £6761 16s 7d brought forward from the previous year, amounts to ! |£14,448 4s 9d, from which £3750 has been paid as an interim dividend at the rate of S per centr for the half-year ended 30th June, 1932, and a sum of £2000 trans- .' f erred to the special reserve account, which now stands at £3000. The board, as a : precautionary measure, has deemed it : prudent to strengthen this special reI serve. 1 The directors recommend that a further dividend be declared on the paid-up capital at the rate ot 3 per cent, for the ■ half-year ended 31st December, 1932, ■\ amounting to £3750 (making 6 per cent. ■I for the year), and that the balance, ;: {£4948 4s 9d, be carried forward. -, Mr. J. A. Plimmer, who for many years has,given valuable service to the company V as a director, and for the past fifteen ■■' years as chairman, having expressed his desire to be relieve_d from, that ofßce, Mr. : O. S. Watkins was appointed in his stead, llr. Plimmer still remains a member of ■'■ the board. The directors retiring by rotation are Messrs. Richard W. Gibbs and W. , H. Millward,' and they offer themselves ' for re-election. The auditors, Messrs. ' Ernest W. Hunt and Geo. F. Judd, offer : [themselves for re-election. The balance-sheet is as follows: — :: Liabilities. —Paid-up capital: 24,500 shares at £5 paid, £122,500; 250 shares at £10 paid, £2500; total, £125,000; deposits and " interest and investors, £274,193 8s 7d; reserve fund, £85,000; income tax, payable • February, 1933, £3449 3s 2d; amounts due company, £244 ss; special reserve ac- ■ count, £3000; profit and loss, £8098 4s -| 9d; bank balance, £4024 17s 9d—£503,009 ] 19s 3d. Contingent liability, income tax : payable February, 1934. Assets. —Mortgages, £434,078 4s sd; war j loan stock, 1938 (face value £40,000), j |£37,998 Is 3d; fixed deposits Bank of NewZealand, £5000; business premises, £10,844 Js 3d; freehold property, £10,274 6s lid; •interest, etc. (current), £5414 19s sd— ;, (£503,609 19s 3d. ,