AUCKLAND NEWS.
[Pbb Pbksb Association/! AUCKLAND, Sept. 13. At the annnal meeting of the Northern Boo* and Shoe Manufacturing Company, Limited, the report and balance-sheet showed the net profit for the year to be £i4,\, which, with the balance from laßt year, makeß a total of -52417 at credit of profit and .038 account. The directors recommended a divi .end of 6 per cent por annum and 10 per cent tobe written off for depreciation, the stock to be reduced by -61352, and the company's liabilities by J81284. In moving tbe adoption of the report, the Chairman said the direotors had pleasure in meeting the shareholders under more favourable circumstances than bad been the case for some years past. The company's liabilities on bills and accounts payable had been reduced, while the loan on the property was reduced from .£2OOO to .61750. The usual provision of £25(1 for doubtful debts bad been allowed, . whilst all known bad debts had been ■written off. Since its formation the com- ~ - pany had paid £3390 in dividends, averaging over 3 per cent per annum. - The latest news from Samoa states that TamaseEe and other leading chiefs have made a formal submission to Malietoa, on board H.M.S. Cnragoa, and delivered ap oae hundred guns. Mr Logan, sen., North Shore, is building a yacht for the young Eing of Tonga.
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Bibliographic details
Star (Christchurch), Issue 5055, 14 September 1894, Page 1
Word Count
224AUCKLAND NEWS. Star (Christchurch), Issue 5055, 14 September 1894, Page 1
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