Condensed Balance-Sheet, October 31, 1926.

NZ Truth, Issue 1105, 3 February 1927, Page 13

Condensed Balance-Sheet, October 31, 1926.

it increased to £16,417, whilst m 1926 the amount rose to £2.1,970. . From the commencement of business it has paid astea'dy 12 per 'cent, on ordinary shares (this year increased to 12* per cent.) and 8 per cent, on preferredS; whilst m addition it has paid off all preliminary expenses of flotation and built up a reserve account equal to one fifth of its paid-up capital. •■•■■■■..•■,... Outside of speculative ventures such as gold mines this must just about create a Dominion record. Its nominal capital is, £50,000, of which £x 42,288 is subscribed- and £35,793 is paid up. Of the allotted shares, £25,856 are described as ordinary and £16,432 as preferreds and it would appear the latter class of shares are limited as to dividends. VFsible reserves total £3842 and

earnings for the period under review were sufficient to have paid more than double the' dividend recommended. In additions its net assets are equal to slightly more than £1/7/6 per share less the current dividend. Under the existing management'the company's shares appear really attractive. ' ' . Its present earnings are distinctly good and its prospects for the future very bright. .

LIABILITIES • , ASSETS • ■ ■ .£.■'■■■.. . £ Capital, paid up .. .. 35,793 Property and plant .. .. 16,576 Reserves .. .. .. 3842 Stock .. .. .... 12,502 Profit and loss .. .. .. 9646 Debtors .. 8474 — — Advances . . .... 3289 £49,281 .Mortgages .. ... ... 1000 Income tax .. „ .. 1273 Cash 7. ... .. .. 10,148 Creditors „. .. .. 1435 ■ ' £51,989 - : . ■ ■ £51,989