FISH COMPANY'S YEAR

Evening Post, Volume CXVIII, Issue 31, 6 August 1934, Page 12

FISH COMPANY'S YEAR

The accounts of Sanford, Limited, Fishing Company, Auckland, for the year ended May -31, 1934, disclose a loss, after providing for depreciation, of £4770, compared with a loss in the previous year of £1614, making a total debit of £6384 m the appropriation account;. The dividend on the 1 per cent, preference shares is again withheld, the last payment being in respect of the 1930-31 year. Ordin'ary shares have received no dividend since' 2% per cent was paid for the 1929-30 year. Gross profit for the year was reduced by £1539 to £4596, and general expenses at £0558 compare with £8005. The retiring directors are Messrs. R. C. Hammond and F. M. Hills, who offer for re-election. Paid capital is £59,375 in 105,000 ordinary shares of 7s 6d each, and 20,000 £1 preference shares. The capital was reduced in 1933 from £125,000 by cancelling 12s 6d a share on ordinary capital, the amount, £65,625, being applied in writing off a deficit of £9666, and writing down the assets' by £55,959. Total liabilities are £83,786, against £82,367 in the previous year. On the assets side buildings and plant are £2107 lower at £38,101, and properties have been reduced by £373 to £2800. Trawlers are valued at £12,056, against £13,396. There is a holding of £4935 in a subsidiary company, to which £4969 is owing.