MOTOR COMPANY’S LOSSES
COMBINED BUYERS, LIMITED tSpeCIAI. TO THTS ‘ BTA*.’] WELLINGTON, December 37. The directors of the Motor Company, Combined Buyers, Ltd. report in their profit and loss account a net loss of £23,621 for the year. They report: “ Certain influences hare been operating which hare greatly hampered the efficient operation of the company. The directors are of the opinion that the company should go into voluntary liquidation. A heavy writing down of stocks has been largely responsible for the debit balance shown in the profit and loss account. The balance-sheet shows £65,205 transferred to profit and loss appropriation account, which is as follows:—Balance, £28,111; reserve for had and doubtful debts, £13,472; net loss, £23,621. A proposal will be made at an extraordinary general meeting to wind up the company, Air IT. 1). Vickery and Mr J. L. Amis (Wellington), and Mr T. H. Caverhill (Christchurch) to be appointed liquidators. . ,
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Evening Star, Issue 20052, 18 December 1928, Page 8
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150MOTOR COMPANY’S LOSSES Evening Star, Issue 20052, 18 December 1928, Page 8
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