LIQUIDATORS’ REPORT

Nelson Evening Mail, Volume LXVI, 18 February 1935, Page 6

LIQUIDATORS’ REPORT

nUILL, -MORRIS LTD. (By Telegraph—Press Association! CHRISTCHURCH, 16th February. The report and balance-sheet of the liquidators of Quill, Morris. Ltd. fin voluntary liquidation), wine and spirit merchants, has been issued, and the liquidators state that further progress has been made with the liquidation of the company, the bank overdraft having been reduced from £41,896 in January, 1932, to net figure on 25th January, 1935, of £7233. Trading operations for the year resulted in a net profit of £3027 14s. Accumulated profits for tile three years during which the liquidation has been in progress amount to £6610 15s. The report adds : “We feel you will agree that the trading results and the overdraft reductions jam be considered with a measure of satisfaction, these achievements suggesting that successful reconstruction of the company is now definitely within sight.” The directors stats that the meeting called to consider the balance-sheet and report will be a- very important one, as certain matters preliminary to reconstruction of the company will be placed before shareholders for consideration. “Unfortunately, certain claims made against the company have not yet been finalised, and until this is done the actual reconstruction must, necessarily be delayed. It, is felt, however, that the time is opportune for proposals to be made. This meeting of shareholders will be tbe most important held sinc» the company went into liquidation.”