NEW ZEALAND LOAN AND MERCANTILE

Dominion, Volume 11, Issue 113, 30 January 1918, Page 8

NEW ZEALAND LOAN AND MERCANTILE

The balance-sheet of the New Zealand Loan and Mercantile Agency Company, Ltd., for the year ended June 30, 1917, is just to hand. The report of \ha directors, dated London, December 6, 1917, states that after paying interest on first and second mortgage debenture stocks, making provision for bad and doubtful debts, and other contingencies, adding £25,000 to General Reserve Account, -writing £3G,OCJ off premises, and placing £15,000 to a Dividend Equalisation Reserve Account, there remains a balance of net revenue of £124,978 IBs. 6d. Out of this amount £45,587 17s 3d. was paid oh June 22 last as an Interim dividend of 25 per cent, on the ordinary and cumulative preference stocks, less income tax, and the directors have appropriated a sum of £10,000 to the Staff Benevolent Fund. This leaves a balance of £69.391 Is. 3d., which the directors recommend should be applied as follows:— To payment of a final dividend of 2J per cent, on the 5 per cent, .cumulative preference stock to June 30. 1917. less income tnv. £24.730 Os. 3d.: to payment of a final dividend of ii per cent, on the ordinary stock, less income tax. making 6 per cent, for the year. £29.200 19s. 9d.; to pnvment of a bonus of 1 per cent, on the ordinary utO'-k le=s vncnro" tax. SXMZ 2s. IM.. lef vine n. balance of £7116 18s. sd„ which is to be added to the General B"3erve Accovnt, making that account £96.134 os. lid.