LOAN AND MERCANTILE COMPANY.
TIXE ANNUAL KEPOP.T. Ry Telenravh.—Pn’.^sAssociation. — Copyright. Received December 13, 7.30 p.m. London, December 13The annual report of the Nov.’ Zealand Loan and Mercantile Agency Company shows the trro»s earnings for the year to bo -2254,514, and the debit balance ,£28,393. The auditors suggest that further larTe provision be made for deficits in respect properties and loans. The report states that the debt is duo to the inclusion of 15 months’ interest o*i tho prior lieu A debentures, and that if only a year’s iutere-t had been taken into account the result would have been a credit of .£3297. The call had already produced over £500,00-3. The business wa? well maintained. The Fum of £010.95(3 had been deducted from the book value of the asset-; to moot actual and contingent losses, and further large deficits would bo, dealt with iu the future. The auditors report that £t/40,05G will not be sufficient, and that a further sum of £817,940 may be required.
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Bibliographic details
New Zealand Times, Volume LVII, Issue 2691, 14 December 1895, Page 2
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164LOAN AND MERCANTILE COMPANY. New Zealand Times, Volume LVII, Issue 2691, 14 December 1895, Page 2
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