MASTERTON PICTURE CO.

Wairarapa Age, 23 May 1928, Page 4

MASTERTON PICTURE CO.

EXTREMELY SATISFACTORY YEAR ANNUAL REPORT The annual report of the directors of the Masterton Picture and Entertainment Co., Ltd., for the year ended March 31, 1928, states:— “We have pleasure in presenting the report and balance-sheet for the yeai ended, March 31, 1928, being th** fifteenth year of the company’s eperations. The year has been an extreme ly satisfactory one, the receipts from entertainments showing an increase on last year’s figures of approximate!) £BOO. Tho net amount transferred t( reserve account is £3381, as againsl £1482 last year, bringing the total re serve acount to £9199. The difference is largely accounted for by tho anioani written off machinery and plant ii 1926-1927 year. “The Directors have made a rail o: 10s per share in respect of the uncallee capital of the company and now re ( commend the declaration of a bonu . dividend of a like amount to be trans ferred from the reserve account to th I credit of shareholders’ calls accoun to liquidate the amount of the cal] Shareholders will thus be relieved o further responsibility in regarl t . share capital. j The Directors further recowmen the declaration of a dividend of lj pe share and for this purpose have se aside £750 from the Appropriation Ac > count in anticipation of the share hold ' ers endorsing the recommendation. Mi G. W. Sellar, the retiring auditor, effer his services for a further term.—W E Kmball, J. B. Rue, G. C. Summerel Directors.”