COMMERCIAL ITEMS

Dominion, Volume 11, Issue 24, 23 October 1917, Page 8

COMMERCIAL ITEMS

SHABLAND AND CO., LTD. The report of the directors of Sharland and Co., Ltd., for the year euded August 31 last states that notwithstanding the difficulties experienced in obtaining goods and freight, business has bten "well maintained. making provision for all bad and doubtxul debte, depreciation, and payment of interim dividend, there remains a balance of £9864 o*. 4d., which includes £37% 15s. 9d. brought forward from last year's account. From this sum the directors have added £2000 to the reserve fund, making it-up to £25,000, leaving £7864 os. 4d. to be dealt with.. This sum they recommend for appropriation, as follows:—In payment of dividend of 7J per cent, for the year, less interim dividend of 5-2 per cent, paid Muv 1. £2812 10s.; in payment of special dividend of 3d. per share from profits earned by the reserve fund, £937 10s.; and to carry forward to next year's account £4114 os. 4d. The directors have subscribed on account of the company £5000 to the Government 1917 w-a.r Loan. The work of the management and staff ha-3 been unusually arduous owing to the company being short-handed, consequent upon the war, and the thanks of the shareholders aro due to them for the satisfactory (performance of their duties. .In terms of the articles of association, the retiring directors are Messrs. Smith and Owen, who offer 4 themselves for re-election. The auditors, Mr. A. S. Hiss, m'Wellington, and Mr. Alex: Grierson, in Auckland, offer themselves for reeloction, and there are no other nominations.