DALGETY AND COMPANY.

Otago Witness, Issue 2805, 18 December 1907, Page 41

DALGETY AND COMPANY.

- The twenty-third annual report of the directors of Dalgety and Co. is as follows: — The annexed balance aheet shows that, after providing for bad and doubtful debts, depreciation in value, of .secjiritiea, interest on debenture stock -and debentures up to 30th June, and payment of income tax, there xeiqaras to the credit of profit and loss account, including the balance brought forward from last year, £208,123 15s 2d. In May last an interim dividend was paid at the rate of 6 per cent, per annum, kw the half-year end-* ing Slot December, amounting to £30,000, leaving' a balance available of £173,123 15s 2d, which, the directors recommend should be appropriated as follows: — In payment of a dividend at the rate of 6 per cent, per annum,' free of,- income tax, for the half-year, making with above payment 6 per cent, for the year, £30,000 fin payment of a bonus of 1 per cent, for the" year ended 30th. June "last, free of income tax, £10,000; to the Reserve Fund £86,000, thereby raising it to £235,000; to . writing down cost of freehold and leasenold prehriseav £30,000; to the Staff Benevolent Fond, £5000; carried forward, £63,123 15s 2d. The aea«on which opened favourably has since turned - very dry in Victoria, New South Wales, and Queensland, and the general situaiion, causes the directors considerable anxiety.