The annual report of the Farmers’ Trading company at Auckland states that the net profit, after writing off £5109 depreciation, making ample provision for bad debts, and valuing stock on a conservative basis, was £50,246, to which has to be added £409 from the previous year, making £50,655. The directors recommend the payment of a dividend of 6 per cent, on A and B preference shares, absorbing £2O, 500, and transferring £SOOO to the building depreciation reserve. This will leave a balance of £25,155 to be carried forward which, the directors remark, is more than enough to pay another year’s dividend, so that, in , effect, the company has earned two ‘year’s dividends in one.
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Hawera Star, Volume XLVI, 21 May 1927, Page 9
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114Page 9 Advertisements Column 4 Hawera Star, Volume XLVI, 21 May 1927, Page 9
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