NEW ZEALAND DRUG COMPANY.

Otago Daily Times, Issue 13856, 20 March 1907, Page 8

NEW ZEALAND DRUG COMPANY.

The following report for the year ended January 31 will ho presented to shareholders in Keiupthonie, Prosrer, and Co.'s Now Zealand Drug Company al tho annual general meeting to l;e held to-day:— ," The directors have pleasure in submitting for tlio approval of the shareholders the balance sheet and profit and loss account to the 31st Jmuiary, 1907. Tho stock has boon take'n with special care, rechecked, and in- " spccled. The outrandiug accounts have been carefully examined,' together with the land,' buildings, machinery, and plant, and full provision has bsen made for all known losses. The balance brought forward.front profit and loss account last year was £24,105 7s sd; loss dividend, 31st Jaimavy, 1906, £«900 11s; appropriation at that date to reserve account. jraiTu 36a Bd; appropriation al that dalo for depreciation, £203 os Gd;—total, '£16,079 13s 3(1; hakucs, JE7835 Us £tl; add tho net profit for this year, £17,-!7G Ss lid;—total, £25,470 8a lid; less interim dividend for half-year to 31st July, 190 C, at 7 per cent, per annum, £7000, leaving to bo dealt with j£lß,l7G 8s lid, which it is proposed to apply as follows: — Dividend to iilst January, 1307, at 7 per cent, per annum, JE700I1; to "writo off balance of linseed plant, £217 15s 9d; 'to write off Stafford street warehouse, £1000; to write off Burnsido 1 plant, £1000; and earn , forward to next year £3258 13s 2cl; — lota], £18,176 S3 lid. Dr Ogston an'l Mr Alexander Bathgafe retire from tho board in l<?rms of tho article.* of association, but are eligible for re-election. The. 'auditors re'iro in the usual course, but are 'available for reappoinimeut, and offer their services accordingly. A dividend is now recommendsd at the rate of 7 per cent per annum on the sharo holdings on the register on 31st January, and, if passed by the meeting, will ho payable to colonial shareholders on and alter DOUi March. 1807, at the Union Bank of Australia (Ltd.), Dur.edin, and at its branches throughout tho colony, ard to London shareholders at the Union Bank of Australia, Coniliill, London, on receipt, of advice."