WELLINGTON INVESTMENT COMPANY

Dominion, Volume 14, Issue 96, 17 January 1921, Page 8

WELLINGTON INVESTMENT COMPANY

REPORT OF DIRECTORS. The report of the direetore of the Wellington Trust. Loan and Investment Co., Ltd., to bo presented at the annual general meeting of shareholders on February 1 states tha-t the sum to the credit of profit and lots on the year’s working after allowing for £566 10s. 2d. written off properties for depreciation), together with the amount of £3952 7». d. brought forward from the previous year, amounts to £15.312 2s. 5d.. from which’£437s has been paid as an interim dividend at fhc rate of 3J npr cent, for tbs.-,half, year ended June 30 1920. The direct ors “recommend that a further dividend of £5OOO be declared on the paid-un capital at the rate of 4. ner cent, for the half-year ended December 31 1920 (making 71 ner cent, for the vear), and that £l5OO be added to the reserve fund from the profits, making the latter £69.500. leaving the sum of £4437 2s. 6d. to be carried forward. During the vear the board subscribed the sum of £5OOO to the Discharged Soldiers' Settlement Loan. o 1 which the first instalment of £lOOO has been paid. The retiring directors are Messrs. James Lookie and W. H. Millward, who. being eligible, offer themselves lor re-election. The auditors. Messrs. C. P. Powles and Ernest W. Hunt, offer themselves for re-election.