TAUPIRI COAL MINES.

New Zealand Herald, Volume LIX, Issue 18088, 12 May 1922, Page 3

TAUPIRI COAL MINES.

t PAST YEAR'S PROFIT, £11,746. DIVIDEND OF Is 6d A SHARE. The twenty-third annual report of the directors of tne Taupiri Coal Mine>». Limited, covering the year ended March 31, will lie presented to the annual meeting of shareholders on Wednesday next. The profit for tho year, after making tJlowanoe for depreciation and provision for income tax, amounts to £11,746 19s B<il, to which must be added the sum of £1100 18s 7d, brought forward from last year, malting «. total of £12.847 18s 3d. Preference share dividends, amounting to £1599 10s Bd. have been paid, leaving a balance of £11,248 7s 7d. This sum the' directors recommend be appropriated as follows:—To pay a dividend of Is 6d per share, £9075; to transfer to accident reserve fund. £1000; to carry forward to next year's account, £1173 7s 7d. The retiring directors Messrs. W. J. Ralph and J. Raynes, offer themselves for re-election. Mr. R- 13. Isaac* offers himself for re-election us auditor. Following is a comparison of the company's results for the last three years:— 1919-20 1920-21 1921-22 ; £ £ £ Brought forward 1,573 1.018 1,101 Not profit . . . 32.105 11.751 11,747 , Dividends—■ Preference . 1.594 1,594 1,599 Ordinary . . 97075 9,075 9,075 Accident reserve . 2.000 1.000 1,000 Carried forward. . 1,018 1,101 1,173 The dividend in each year on the ordinary shares has been at the rate of Is 6d. , I I .n.~— I