Page 7 Advertisements Column 2

Wanganui Chronicle, 19 December 1950, Page 7

TKADEKS’ 1 INA\< E Prices of cars reir.ainctl liigli. but a sudden drop was not expected, said the chairman ol the' Traders’ Finance Corporation, Ltd., MrS J Harbutt, at the annual meeting of shareholders. If import restrictions on ears were removed, he said, it would still take some time for the market to react Io any extent. During the year, the company’s farm property was sold to the State at a substantial nrofit. said Mr. Harbutt. This had been included in the working capital, which was now used solely for ordinary business purposes. Partly owing to the sale of the farm and partly to the increase in business during the' year, the directors considered that sharcholders should reap the benefit, and therefore an increase dividend of 7 per cent, had been rcommended. The company’s reserves were substantial, and unless some unpredictable happening took place In the international field, there seemed every prospect of maintaining the rate of dividend. The amount of advances by the company had increased by ’..’l per cent, during the year, while debtors had risen from. 1140.7.">1 to £164,299 during the pait year. Taxation still took a major portion uf the net earnings.