COMMERCIAL.

Sun (Christchurch), Volume IV, Issue 1160, 30 October 1917, Page 6

COMMERCIAL.

HUDDART-PARKERB. Press Association. DVjNF.DIN, October 30. Huddart-Parkcrs reached top price on 'Change this morning, with buyers at £1 14/- and sellers at £1 14/0. Two sales took place at £1 11/-. THE DRAPERY & GENERAL IMPORTING COMPANY OF NEW ZEALAND, LTD. The following is the thirty-third y"arly re port and balance-sheet of the company lor the period from August 20, 1910 to August 20, 1917: The directors deeply regret that in the year past three of the employees of the . company have lost their lives while on active serviee on the Western front. Since the close of the financial year the company has taken up £IO,OOO of the last New Zealand War Loan. Land and income taxes paid in the past year were heavy items, while for the coming year the. amount payable will be increased nearly threefold. The directors have thought it prudent to make full provision in the present accounts for the esti- i mated amount of this taxation for the com- , iug year, and accordingly this has been , done. The net profits for the past year j are £21,588 18/9, which, with £lß,Br>9 10/9 , brought forward from last year, show a , total to the credit of profit and loss account , of £10,448 15/0. On May lan interim divi j dend was paid on preference shares at the ( rate of fl% per annum for the halfyear ended February 20, which absorbed £.'!750, and leaves £.'10,098 15/0 now available ' for division. This sum the directors pro- ' pose to deal with as follows: — £ s. d. ! To payment of a dividend at the rate of 0% per annum on pre- ' fcrence shares for the halfyear ended August 20, 1917 .. 3750 0 0 To payment oT a dividend at the j rate of 7% per annum ou ordinary shares 8182 7 11 To addition to reserve fund (which will then stand at £00,000) 3000 0 0 ' To balance to be carried Torward less a bonus of 2J% to holders of ordinary shares on • the amount of their purchases 21,700 77 i £30,098 15 0 ! The dividend and bonus (if approved) will be payable at the company's offices, , Duiiedin, Christchurch, and Wellington, ou oiid after November 1. As provided by the Articles of Association, Messrs H. E. Hart and W. Pels retire from the. di.vct.ivate ; ou the present occasion, and, being eligible, , oiler themselves for re-election.