PLACER DEVELOPMENT

Evening Post, Volume CXX, Issue 141, 11 December 1935, Page 14

PLACER DEVELOPMENT

WIDESPREAD INTERESTS

Placer Development Company, whose shares are quoted on the New Zealand Stock Exchanges, is a holding company with interests in New Guinea, Colombia, British Columbia, California, and Australia.

The company's annual report and statement of accounts has just been issued. The accounts are shown in Canadian dollars, but in the following remarks an approximation of the sterling equivalent is given. • The profit and loss account shows property expenses, which apparently refers to exploration tests, at £43,000. General administration is £10,000. commissions on property sales are £122,000. Receipts include: Property sales £1,253,000, dividends £76,000. Credit is taken for the value of an adjustment on Bulolo shares at £800.000. Net profit is shown as £1,151,000.

Liabilities include: Paid-up capital £123,000, sundry creditors £974, Pato Mines £15.000, Bank of New South Wales £46,340. reserves (share premium) £300,000, special and general reserve £117.000, profit and loss account £190,000.

Assets include: Cash £146,369. advances £5000, Bulolo shares £2,000,000, Pato shares £90,000, other mining shares £131,000; and other items bring total assets to £2,400,000.