PROFIT OF £66,327 SHOWN BY WRIGHT, STEPHENSON AND CO.

Wanganui Chronicle, 6 September 1950, Page 6

PROFIT OF £66,327 SHOWN BY WRIGHT, STEPHENSON AND CO.

WELLINGTON, Last Night (PA).— The net profit of Wright, Stephenson and Co., Ltd., for the year ended June 30 was £66,327 against £59,371_ the previous year. Dividends take £52,84’j ‘£41,579 last year). The transfer to the general reserve is £7701 (£1500) and the carry forward is £51,962 against £46,185 brought in. The preference dividend is 5 p.c. ana the ordinary dividend is 10 p.c. plus a bonus of 2a p.c. against 8 p.c. plus a bonus of 2 p.c. last year. The chairman of directors, Mr. S- C. Sutherland, in a memorandum to shareholders, states that to effect a merger with Abraham and Williams Ltd. the preference share issue has increased by 67,085 shares and the ordin. ary share issue by 26,027 shares, the total paid-up capital now being £643,194 against £550.082 last year. From the liquidation of Abraham and Williams, a surplus of £6O 000 has been added to the general reserve with a surplus of £7299 from the liquidation of British Filling Stations Ltd. The general reserve now st ands at £525,000. Shareholders funds are £173,839 up al £1,270,156. The sum of £10,344 has been added to the deferred maintenance account which stands at £39.616. Two Sydney welterweights, Alf Emmerson and Shepherd, who will box at Napier, and the Melbourne middleweight. Billy Gleeson, who will box at Dunedin, arrived by the Monowai yesterday.