TRUST COMPANY'S YEAR

Evening Post, Volume CVII, Issue 15, 18 January 1924, Page 2

TRUST COMPANY'S YEAR

■ -The Wellington Trust, Loan, and Investment Company's fifty-first annual report and balance-sheet, being for the year ended 3lEt December, • 1923, shows that the sum to the credit of profit and loss on the year's working,, after allowing for the sum of £100 written off business premises, together with the amount of £4288 17s lOd brought forward from the previous year, amounts to £13.148 2s Bd, from, which £3750- has been paid as an interim dividend at the rate of 3 per cent, for the half-year ended 30th June, 1923. The directors recommend that a further dividend be declared on the paid-up capital at the rate of 3A per cent, for \he half-year ended 31st December, 1923, amounting to £4375 (making 6 j per cent, for the year), and that £500 be added to the reserve fund froiu the profits, making the latter £70,000, leaving the sum-.of £4523.,25. 8d to. ba carried forward. "- :. : : It is with great regret that the members of the board record the death: ot their late colleague, Mr. James Lockie, ■'who resigned his seat the.previous year owing to failing health. The directors tendered their sympathy to his relatives and their high appreciation of his'long and valuable services to the company. They also deplore the death of one ot the company's auditors, the late Mr. Charles Plummer Povvles, after thirty., eight years of faithful service^ M*c G. F. Judd, F.1.A., N.Z., has been appointed by the Board of Directors to fill the vacancy thus caused. The retiring directors by rotation are Mr. W. H. Millward and, Dr. A. K. Newman, who, being eligible, offer them--1 selves for -re-election. The auditors, Messrs. Ernest W. Hunt and .G. F. : Judd,. offer themselves for reflection.