THE N.ZL. AND M.A. COMPANY.
THE ANNUAL BEPOKT. London, December 13." The annual report of the New Zealand Loan and Mercantile Agency Company ebows the gross earnings for the year to ba L254.5H and the debit balance L 28.393. The auditors suggest that further large provision be made for deficits, in respect to properties and loans. The report states that the debit is due to the inclusion of 15 months' interest on prior lien " A " debentuies, and if only the'year's inteiesl had been taken into account it would have left a credit balance of L 3207. sThe call had already produced over L 500.000. •' The btui~ ness was well maintained, £640,956 had been deducted from 'the book value of the assets to meet actual and contingent losses, and further large deficits would be dealt with in the future. "The auditors' report showed that L 647.956 wonld not be sufficient, and ft further sum of L 847,94:0 may be required
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Bibliographic details
Otago Witness, Issue 2181, 19 December 1895, Page 36
Word Count
159THE N.ZL. AND M.A. COMPANY. Otago Witness, Issue 2181, 19 December 1895, Page 36
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