Page 4 Advertisements Column 1

Southland Times, Issue 23332, 16 October 1937, Page 4

ANNUAL REPORT OF D.I.C.

NET PROFITS AMOUNT TO £38,945 11/5

(Special to The Times) DUNEDIN, October 15. The directors of the . Drapery and General Importing Company (D.1.C.) state in their fifty-third yearly report that the net profits for the year ended on August 20, after full provision for land and income tax, bad and doubtful debts and depreciation of buildings, fixtures and plant, were £38,945 11/5, which, with £40,500 1/8 brought forward from last year, showed the total to credit of the profit and loss appropriation account of £78,995 13/1. An interim dividend on preference shares at the rate of 5 per cent a year for the half year absorbed £6250 and leaves £72,745 13/1 now available. This sum the directors recommend should be appropriated as follows:—Payment of dividend at the rate of 5 per cent, a year on preference shares for the halfyear ended August 20, £6250; payment of dividend at the rate of 6 per cent, a year on ordinary shares, including a “bonus” issue, £14,588 19/5; addition to reserve (which will then stand at £40,000) £7630 0/4; balance to be carried forward, £44,276 13/4. The attention of preference shareholders is called to the fact that by the Mortgagors and Lessees Rehabilitation Act 1936, the temporary reduction in the rate of the dividend payable on preference shares, viz., from 6 per cent, to 5 per cent., was made permanent.

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I Trust Funds held by Trustees amount to over £500,000 Subscribed Share Capital £241,341 Value of Forestry Contracts Exceeds £4,000,000 Net Area Planted 169,311 Acres Reserves and Other Areas Exceed 12,000 Acres Trees Planted Exceed 100.000,000 Registered Office: SOUTH BRITISH INSURANCE BUILDING. AUCKLAND Branches at Wellington. Christchurch, Dunedin, Invercargill, and throughout Australia.

GOING ABROAD? If so, safeguard your affairs by appointing “THE TRUSTEES” your Attorney. THE Trustees Executors & Agency Co., of N.Z. Ltd., has an organization of specialists to supervise your affairs or business, collect income, prepare and furnish taxation returns, attend to investments, submit regular statements of accounts, make perio al payments or remittances to any part of the world. The Company is specially qualified to act as agent or attorney, and has had extensive experience in the management of all classes of assets. Charges are moderate. THE TRUSTEES EXECUTORS & AGENCY CO., OF N.Z., LTD. J. B. REID - Southland Representative”. Local Advisory Directors. John Gilkison, Esq. Robert M. Strang, Esq. John Macdonald, Esq. Maurice Royds, Esq. Head Office - - Dunedin. M //ml

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RABBITSKINS! RABBITSKINS! SHEEPSKINS! SHEEPSKINS! Consign or bring your Skins and you will not be disappointed. Southlanders support the 100% Southland Firm, who have consistently paid you good prices. Our overseas connections are . clamouring for Southland products. Large quantities are also required of Sheepskins Crutchings Hides etc ■ EXPORTER TELEPHONES,— LEET STREET- Phone 2077GORE; 'Phone 557 LUMSDEN- 'Phone 54. PRIVATE- 'Phones 1428 & 2323.