BOOTH, MACDONALD AND COMPANY.

Press, Volume LXVII, Issue 20173, 27 February 1931, Page 12

BOOTH, MACDONALD AND COMPANY.

ANNUAL, REPORT, . The thirty-second annual balance-sheet of • Booth, Maodonald land Co., for the year ending December 315t,.. has been issued.- , The annual 1 meeting will .be held on Monday, March 9th, at 10 a.m. \ The report states: — I,'™;* ' Your directors: herewith submi statement of accounts for y which ended December 31st, IwJU. Owing to the difficult trading Omdi-; tions experienced duung ' the year, our turnover has fallen considerably and this factor, coupled with tbe_mcreased primage duty and the nign. cost of exchange, * hßs caused a neayy decrease in our .gross profit.' , After providing £7222 ISs 5d for,depreciation, and paying £7622 17s tor debenture interest, our trading loss is £5113 18s 9d, but when we deduct the carry-over from last year ox Os 10d and transfer £2517 from the Accident Insurance Fund, we finish the year with a credit of £32 4s Id. As we are now covered by. an insurance* company it: is not necessary to continue our accident insurance, fund, hence • the "transfer above_ mentioned, the directors being of opinio# that the . increasing responsibilities under employers' accident Insurance are* too great for us to carry. " We have further reduced our iiabil-. ity under mortgage debentures by Paying off £3525 during the year, mak-. ing the total debentures redeemed £6250. The retiring directors are Mr J. A. Pannett and the Hon. George J» Smith who, being eligible, offer themselves for re-election. Messrs W. S. Newburgh and Co. offer themselves for re-appointment as auditors. James Tait, George J. Smith, Directors. ; /. Balance-sheet. . | PROBST AND LOSS. I' • " , ■ X - f. d. Dec. 31st, 1930 —Branch and travellers' expenses, com- .. .„ ; missions, rateß, and' - I " taxes, advertising, atationf ery, freights,-catalogues,' bad debt*,'etc. t. •• 15,348 3 5 Branch and travellers' sala- ' ries, charges, fire, accident, . and'mo tor-car tasurances, ' , • etc. .. .. 15,189 9 7 Working expenses, rents, ajßce ' salaries, discounts,- raotor- ' car expanses and deprecla-, - ' tion, etc. ' . .. 13,205 9 8 Debenture interest- 7,022 17 r0 Balance ~ .. 32 4 1 £51,3083 9 Jan. . Ist, .* 1030—-Balance at credit ./of Appropriation * ■ Account,- #7OBB -4a" 4d; less dividend* paid £4404 la 6d: .. .. 2,629 2 10 Dec. 81st—Insurance funds transferred .. 2,517 0. 0 : Balance from Trading; Account, < transfer fees, dividends, rents, etc. ' 46,251 19 11 £51,898 2 ' 9 CAPITAL AND LIABILITIES. ' £ s. d. Nominal- capital £186,898 ' 15s Od. Subscribed capital—--82,950 ordinary shares at , 2s 6dj £10,868.15; less unallotted, 100 .at 2s 6d. £l2 10s .. .. 10,356 5 0' 170,525 5} per cent, pcef- - <~ erence shares * at £1 . £176,825; lets'. unallotted, * 302 at £l, pem k .. 176,163 0 0" ToUl I -< Mortgage- 4d&nimm&MVTii>. . ;.'a .. »V.. 275'; . § *" £2000; leWtaies p4id, < ,§[ At I 876 18 •Vxtfit and Loss Ud Appro- , .. ,"*2 4,^1 tHiij,,-.' > 4 t <■ *£ r*. a., C*sh ' .. '--c. ~ Jl -162, ! l« 2 -; a«T«; 1.. * Stocks on hand ■ a.--- . 13§i§2S 1? 2 Investments < 1 S.BSD 1# 5 Tunda held by debenture- - holders' , 7,367 T t Properties at Chrlatehureh, .' Auckland. Hashing*. Penrose, Bawera, Swr Ply- 4 '' mouth, and 'Wtewntoi \ r A NorW leu- depreciation, £67,719 los 3d; Mss Wort- ■ gagis, £19,558 .. .. U8;161 Plant, tboU, pktiaauit \ f V gunflrleß tt Ohrittoliiu'ch^ InyeroarffiU* Pwwje, £59,971 16s 74; less de- ' preciatton, £5197 8s Id ..■ 54,774 8 % flt ? Bhirnltttre' and fittings _at OhristchurchL -iftd branwies, lees depreciation, -» 1 V s stationery, *nd ''t : motot-can, !«»» deprsoia- _ « tion ,V. , • • 3.705 7 9 ' £SI4;T73 'J "8 Comparisons witli the previous year are a's follows: , . 3|29. , IJBO. Net profit' 1 - f - > tfm* Dlv. prof, per cent. .. . » Sundry creditors' .. ., " .'. 5;760 .®rttor ,^ lTab, ' ' r."«i,°Ko;' 'sailli: Stock, oi hand 113.487 138,826 Investments •• T,«22 , '5.359. Properties t Plant, tools, etc, .. 58,888. > Furniture, fittings, etc , |,l«st > |,7ffß Catalotrnes, - ?tc 8,758 8,705 {LOSBi , 0 { t* \ V \ TALLOW . SALES.-, ' . (rMXTED tar.ss assoewwos-^*sf ; > i np,tßttAMr«*cQwaioP»t L < i » v v - " * & ' LONDON, Pe!bn»ry 25.' At the tallow sales, 982 casks were offe«d v and 89 we*e sold, at, 8s 'd<|CUne.i „Quotations ;-r- u ,« - 'A'#', ? s v ' ,\ \ Mutton— , 1 " • . •• ' * Fine . • . * 25a €4 . >Medium -I.' 19# Beßf iin» .. X o#' „ '' , Medium 18s, Od ' ' * % i T Messrs A. H. Turabull.and Company haw received the following cabla meßsage, dated February 25th, tAja tlieir principals, Messra. W, Weddel and. Oompany,Hd.i Londo*:-r "Th« tallow market-has declined 2a; 1000 casks were,,offered And 90 abld." - The Buik' of Now Zealand has received thp following advibe from its London office, under'dato February. 25th: —• " < ? , Tallow—The dofnand, is Current quotations: Good mutton; 28a to-28a 6d per ewt; good beef, 20s: mixed, 20s: gut, 15s to 17s, - k • V* vV' I tJ < US. Dalgofcy and Company, Ltd., havo received a cablegram tea their Ziondon "Office, datad* February asth, aa follows: Tallow—At to-day's sale 982 casks wore ofiered, of -which 9 per cent, was sold Quotations Fino mutton 255, 'good mixed\2os, inferior, 15s Od to 17a Gd.' ->i \ i ■" AUSTRALIAN PBODUCE,\ / s QUOTATIONS Alb (ckixss CBESS TSUtftUAPK—COPXSXOHT.Jv 1 (Received FebMary 26th, 8.10 p.m.) , *"*' gTDNEY,. February' 2f1:;..- ' General produce Quotations are'as under:— ■ "Wheat—hx trucks H\dne* in ta -ouutry •Flour—£7 10s,- . ,v •Pollard—£4 ss. „ Bran»—£3 15s. Potatoes—'TaSJaanian, N £6. " . . t Oitiona—CHobes, £4*.loi; .broWn. £5., ' ' ' Si; Algerian, 3a fid > '

/ A MOTOR MERGER. THE HOLDEN /PROPOSAL. The projected merger of Holden's Motor Body Builders, Ltd., and General Motors (Australia) Proprietary, Ltd., will involve a fusion of the ' largest motor-vehicle- body building concert in Australia-and the Australian.'subsidiary of the* General Motors Corporation of States/Tim terms submitted tofstfareholders of the Australian, company*, 'provide for a liquidation of Jfcoideujß; Motor Body Builders, Iftd./ melts':'present, .form, and the-formation of a new company to be called General Motors ,and, Jtiol-7 dens, Ltd. To .this entbihe^ "whole' <dfv thei assets "of theAustraJiiiu company will be transferred to - the new company. In return the "A" and "B" 'preference capital will be paid back to shareholder» at par, absorbing £550,000, and holders of ordinary shares will be asked to convert then* holdings'into preference shares in General Motors and Holdens, Lsd*» in the proportion of nine preference shares in the new.concern for every,ten-ordinaiy shares held in Holden's, -<3for purposes ' of transfer-the assets hare been valued at £1,110,600. * . „ , \ A circular to shareholders of Hoi-; den's Motor Body Builders, Ltd., states that 70 per cent, ofithe total output, of the eoq&paiiy -'is .Absorbed l>y *lhp \ General jtfotors iXAurflrali#)/ .and by T the 'inergdh the-letter tfill- extend ,inri activities from distributing ta maJiU,factvrin&v";, works ill ooiitiuue; to- opera M/fTtfr- E. ® l-ucej Mid 1 Mr be on the Board. -company, of which ohainnrol'and <3eii-'; ;eral' -Trdpty tor. -SS sauting thtf Ajnarifcan \i#£rests •. ..W. *Lv\ < U Ltd.. has"* 000,' in 62*-, m cent. "A* 1 , CTiumolative' andfe 230,000 9- pet. preference - shares, aU\of .£1 eara«; Under the .merger .proposal 'orfinarj® will thus £62,400 Of .capital ,',« ad v _ would < ,#&}»'' change the statin w cottYertingL.to/pi^3«?a&^^ sumably the ordinal? wiU' lfej held by the General Motors (Australia) , Ltd.", In its ■ operation^;.'thißl den's Motor Body, Builders,; L&L, dw-;^ closed a net profit oF £171,141, com. pared with £&#?92«ftwyear: 'Dfv>dfen3.j» ofdrnti^r jreducbcl : frpm lo "per cent; "fe»; rn si "■par; cent. The directpttj economic - conditions Y m *w« had a marked effect- upon sales of motor-can;.' As result: , the and profits hafrtatoVipS effort. had of production, aad ;ec6ißraiißß'&|adeffected in all departments vpifchput ias*j. pairing the' of Motors tary, Ltd,, was„ 1928,. witi» ■: '£400,000, for the purpose of asaelßWinft and distributing 3gsau<:£ factured ISy < o£ GfencratlMotore CorpowS tTnited States, Caaipdaf 'jahd^piglwid^ •—» FEWER NEW COMPARES. * ;,;/// £»?* , A. feature' of -th,a company. iu Yie(wit n dubt'l93V vU'4ln Jadi the BDminKt'cßpital at thftyMptpMb's topped"' amounted 1 ; i**': eoupued «ith Ai^i<H)t)(odSQ yo»r. Tho decline In eompaay 'Ahmtiow is traceable' largely to' dplltions. Eefuwl ©f -InJtuotu' lefideijttNtt. w»gnli« -the m? •vrorJring oostg forthfcr m&itagtsd vpstors lending financial Bupjport to; msw indastrir enterprise*,' BnbaU&tS»l fosds. ▼*s«, BVBtlau><> fpr- Toand .tunMuiit, 'feat JHr. bnt-th« isdsitritl utd-tiding ootfdttiona. Vof; cam& more. tmlaVourahle as the •Jew 'prtf-, gretied, and the ' moneys Via {4 otber' chaimrie.,/ : £'JZ > a ' \ /-■ ■. T ' "-' *hi mi'j'i r.i i lit jrfr r'.' BETIER STYLE AND VALUE IN " SUITS-—AND A B^EE .sEpyicp. Your desire to di-ess' and,, appear at your indicates that belf-respect which commands "the confidence of others.' \,Yofc s will' always respect yo'irself in an "OwenTailored" suit, because you know that the suit'is better cut and .correct ia ever£ detail. Owens,litdi r " put .as; much thought into the making of suits as the watch-maker int6 the creations of his finest w±itchss. COiey skilfully made by experts, and j;ou only pay as low* as from 6 gq|s(iaas,< In addition to fioe tailoring, o*wiii Ltd.. offer other - unique. to .their .customer: A "Free ''Pressing Service; A 12 months* Guarantee ot Satisfactory Wear, A spacious now shop where -you can inspect the ne» suitings to" best j' better' values through dealing direct the Uo?t, our New Seasons Suitings,' I/FD., V The London. TaUors, 761 CS>-- ■"'■■■■■' e - P A jour poods;; tts}' i& three -»asdrfepo»sa» ?*, ■ . ~. x r ;J> "jL\ ~ jVgjJ