MORTGAGE COMPANY'S YEAR
The Permanent Investment and Loan Association of Canterbury, in its 60th annual report and balance-sheet, shows a net profit of £7434 5s 2d, to which the amount brought forward from last account is added, making a total ot ±7Sbl 10s 8d to be dealt with. The directors decided to pay on 31st December last the usual dividend and bonus of 3% per cent, making 6% per cent, for the year; to transfer £1000 to reserve account, and carry forward £364 10s 8d to next years account. The balance-sheet shows fully paid-up capital, the same as last year, of £100,000; reserve fund £15,000, an increase of £1000 for the year; dividend equalisation reserve. £2500, as last year; profit and loss £364, or £66 less than for 1929.' These and other liabilities comas follows:— !
£ £ Shareholders' funds ..... 120,430 117,864 Deposits : 49,675 47,984 Accrued interest 606 725 Interest prepayments ..: 26 19 Sundry creditors 65 64 Bank.... 172 -. Assets compare as follows:-— ' 1929 1930 . £ <£ Loans on mortgage .. 167.407 165,876 N.Z. Govt. 6 p.c. Bonds . 500 500 Interest due and accrued 3,029 3,058 Sundry debtora ..— 8 3 With bank ,. 280 694 The dividend of 6% per cent is the same as for the past six years. The shares are £10 fully paid.
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https://paperspast.natlib.govt.nz/newspapers/EP19310211.2.103.10
Bibliographic details
Evening Post, Volume CXI, Issue 35, 11 February 1931, Page 12
Word Count
209MORTGAGE COMPANY'S YEAR Evening Post, Volume CXI, Issue 35, 11 February 1931, Page 12
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