MASTERTON PICTURE CO.

Wairarapa Daily Times, 22 May 1928, Page 4

MASTERTON PICTURE CO.

A SUCCESSFUL YEAR. DIRECTORS’ REPORT. The Masterton Picture and Entertainment Company, Ltd., has just concluded another successful year, as shown by the Directors’ annual report, which is as follows: “We have pleasureun presenting the report and balance-sheet for the year ended 3.lst March, I'92S, being the fifteenth year of the Company's operations The year has been an extremely satisfactory one, the receipts from entertainments showing an increase on last year’s figures of approximately £SOO. The nett amount transferred to reserve account is £3381, as against £I4S2 last year, bringing the total reserve account to £9199. The difference is largely accounted for by the amount written off machinery and plant in 1926-1927 year. “The Directors have made a call of 10/- per share in respect of the uncalled capital of the" Company and now recommend the declaration of a bonus dividend of a like amount to be transferred from the reserve account to the credit of - shareholders’ calls account to liquidate the amount of the call. Shareholders will thus be relieved of further responsibility in regard to share capital.

“The Directors further recommend the declaration of a dividend of 1/per share and for this purpose have set aside £750 from the Appropriation Account in anticipation of the shareholders endorsing the recommendation. Mr G. W. Sellar, the retiring auditor, offers his services for a further term. —•W. R. Kemball, J. B. Rue, G. C. Summerell, Directors.”