E REECE, LTD.'S YEAR.
The directors of E. Recce, Ltd, Christchurch, in their report for the period from February 28, 1934, to May 31, 1935, state:— "Although competition has been very keen, there has been a decided increase1 in the turnover of the business) which has resulted in a mora satisfactory profit for the year under review. At the extraordinary general meeting of shareholders, held on October 10, 1934, the nominal capital of the Additional commercial information will be found elsewhere. '>..^.#..y*»««««#*»*g«»»«-« company was reduced by the cancellation of the unallotted ordinary shares and the reduction in value of the preference and ordinary shares. This procedure has enabled us to write off the old debit balance of profit and loss account, and we are now in a position to deal with any profits made by the company." The balance-sheet shows a net profit of £1238 2s sd. which the directors recommend should be dealt with as follows:—By payment of a dividend for the period of 2| per cent, on preference shares, absorbing £612 10s. By carrying forward the balance, £625 12s sd.
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https://paperspast.natlib.govt.nz/newspapers/EP19350720.2.130.15
Bibliographic details
Evening Post, Volume CXX, Issue 18, 20 July 1935, Page 12
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182E REECE, LTD.'S YEAR. Evening Post, Volume CXX, Issue 18, 20 July 1935, Page 12
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