KAIAPOI WOOLLEN COMPANY.

Otago Witness, Issue 2811, 26 August 1908, Page 41

KAIAPOI WOOLLEN COMPANY.

CHRISTCHURCH, August 19. The report of the directors of the Kaiapoi Woollen Manufacturing Company (Limited) for the year ended 31-st July, 1908. which is to be presented at the annual meeting . .of the. .shareholders on August 26, 6tates that notwithstanding the serious •dislocation of trade caused by the late fire, the directors anticipated that the report and balance sheet would bo considered satisfactory by shareholders. The plant had been kept at the usual high standard of efficiency by the expenditure of £3667 on new machinery and £1819 on necessary repairs. The siim of £3400 had been provided for depreciation. Stock had been carefully, taken at present values, and provision made for all bad debts. After paying- the interim dividend of 3 per cent., aßsorbing £3000, the profit and loss account showed an available belance of £7492 5s 2d, which the directors reeomtnended should be allocated as follows : — Dividend of 4 per cent, for half-year, making 7 per cent, for the year on ordinary shares, and on preference shares a dividend at the rate of bk per cent, per annum from allotment; £1500 to reserve, the balance of £1432 to be carried forward.