DEVONPORT FERRY

Sun (Auckland), Volume IV, Issue 984, 29 May 1930, Page 13

DEVONPORT FERRY

NET PROFIT OF £11,241 DIVIDEND OF 7i PER CENT. Xet profits of £11,241 shown in the 35th annual report and balance sheet of the Devonport Steam Ferry Company, Ltd., work out at approximately 7.4 per cent., just a shade under the amount required to pay the usual 75 per cent, dividend. The usual provision was made for depreciation, and £SOO was placed to the credit of Steamer Insurance Account. Interim Dividend The balance brought forward last year after payment of dividend amounted to £553 17s, making a total of £11,794 13s lid. An interim dividend at the rate of 75 per cent, per annum for the half-year ended October 31, 1929, absorbed £5.625. leaving a balance available for appropriation of £6.169 13s lid. The directors recommend payment of a further dividend at the rate of 7 5 per cent, per annum, absorbing a further £5.625. for the half-year ended April 30, leaving a balance of £544 13s lid to be carried forward. The retiring director, Mr. W. D. Holgate, offers himself for re-election. Following is a comparison of the company’s results for the past three years: 1927-2 S. 1926-29. 1929-30. Brought forward £440 £546 £554 Xet profits .. 11,235 11,257 11.241 * £11,675 £11,804 £11,795 Dividend, 71 p.c. 11,12© 11,250 11,250 Carried forward £546 £554 £545 Assets total £210,163, against £217,824 last year. In the following comparison of items the previous year’s figures are given in parantheses: Steamers, plant, freehold property, mortgages, etc.. £190,862 (£199,969): War Bonds, £6,289 (£6,289); stock, coal and stores in hand, £6,416 (£6,340); sundry debtors, £4,619 (£3,299): cash in hand and in bank, £1,883 ( £ 1,356). The capital of the company remains

unchanged at £150.000. The only increase in reserves is the addition of £SOO to the steamer insurance fuud mentioned in the report, which brings this account up to £13.150. Other reserves funds stand as follow: —Reserve account. £15.867; accident insurance account. £3.000; boiler renewal account. £3.000. Provision for income tax has been increased from £3.000 to £ 3.500. Mortgages are reduced from £3.444 to £1,644. and sundry creditors by £6,327 to £I3.SIT. FRUIT AND PRODUCE WELLINGTON MARKET REPORT FROM BROKERS Leary and Co., Ltd.. Wellington, report present values as follow: —Apples: Fancy Coxes. 10s, 12s; Jonathans. 5s 6d. 6s 6d; Delicious, 6s, 7s: Stunners. 6s. 7s; cookers, ss, 6s bushel. Pears: Fancy Winter Coles, 10s, 1-s; Nelis, 8s 9s; Keiffers. 5s 6d, 6s: others, 4s, 5s bushei. Cape gooseberries: Choice. ss, 5s 6d half-case. Passions: Choice large. 7s Ss; others, 5s 6d. 6s 6d half-case. Lemons: Choice cured. ISs, 20s; others, 10s. 14s bushel. Tree tomatoes: Choice. 6s. 6s 6d; others. ss, 5s 6d half-case. Grapes: Choice, Is 2d, Is 4d lb; others, lOd. Is lb. Tomatoes: Choice red, ss. 6s; coloured. 4s, 4s 6d half-case. Cucumbers: Consignments recommended. Pumpkins: Choice red. 6s a sack. Celery: Choice. 8s 9d; others, 5s 6d. 6s 6d banana case. Lettuce: Choice. 4s 6d. ss; others, 2s, 3s banama case. Kumeras: Choice, 4s.' 5s sugar-bag. Green Peas: 20s, 25s half-sack. French beans: 14s, 16s half-sack. Cabbage: Savoy choice, 4s, 5s sack. Brussel Sprouts: Choice, Ss, 9s bushel case. Black Leaf Forty: In 101 b tms, 555; 21b tins. 14s 6d; Jib bottle, 5s 3d each; loz bottles, 14s 6d a dozen. PRICES FOR APPLES Reed. 11.5 a.m. LONDON, Wednesday. The Pakeha’s New Zealand apples brought:—Jonathans, 11s to 13s; Delicious, 30s to 12 s.