WORLD'S PICTURE COMPANY.

Poverty Bay Herald, Volume XLIII, Issue 13972, 19 April 1916, Page 4

WORLD'S PICTURE COMPANY.

j The first annual meeting of the I World's Picture Company was held this ; afternoon, when the following annual ! repqrt was presented : — '] In presenting the first annual report, and' balance-sheet your directors l\av<> pleasure m being able to record a'successful year. A perusal of the financial j accounts will reveal the fact of a sub- ! stantial credit- balance, appearing m the j profit and loss account. The directors \ deem it advisable to make a liberal alj lowuice for depreciation, and therefore recommend that same be charged as fallows :— -rlO ]ier cent off furniture, 25 per ! cent, off plant, arid 25 per cent off preliminary expenses. The directors declared an interim dividend of 10 per cent- on the nominal capital, and £hi« was paid to shareholders during the year. You are .asked -. to • confirm this action. Of the balance remaining m profit and loss account .after providing for the .above, the directors recommend that £200 be placed to reserve fund and the balance carried forward. The directorate have been always ready to offer the company^ assignee to patriotic and charitable funds during', the year, and tliey feel gratified at. being able to help m this w&yi Although members have probably received 'many calls on their private incomes, the directors feel confident of> their support m this direction. The/ appointment of Mr E. M. Cuthbert as managing director at ■••'• the Commence- 1 . menfc of the year, has been fully justi- ■ fied -.; by the successful results obtained. ■ The high-class entertainment, both i of pictures and orchestral music, >has been fully availed of by the public who have so widely patronised our theatre, and iMr Cutlfhert has promised still er'eater attractions m the near future. Your directors are so sanguine of The bright future befpre the "movies"- m ; Gisborne that they have recently j secured a satisfactory lease of His Ma- j jesty's Theatre, and when same has. been refitted and reorganised they con- ' ■fidently look forward to , even -greater support from the public, who have al- j ways been ready to show; their appreciation . of this company's efforts to please them. Tlie directorate w\sh to, record their thanks for the loyal .assist- I ance rendered by the staff during the, year, and their, conscientious attention to duty. Tn order to recognise' this a I boTiiis was , each officer last '. Christmas. Tlie retiring directors are > Messrs F. J. Lvsnar, TL ;T. Pollock, and J. B. Cuthbert. The; latter haw. ing joined the forces' will not be offerin,? for re-election ..; but Messrs Lysnar and Pollock, beinor elionhle,- offer-them-selves for re-election. There will thereTore be five vacancies on the "directorate, to fill at the annual meeting. Mr W. Hamilton Irvine, auditor, offers himself for re-election A;-.-- - ;-.--- ■-- ;

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