WESTPORT COAL COY.. LTD.

Hokitika Guardian, 19 November 1930, Page 2

WESTPORT COAL COY.. LTD.

ANNUAL REPORT. By Telegraph—Per Press Association A DUNEDTN, November 17. The annual report of the AVestport Coal Co., Ltd., states that the profit for the year, after providing for bad and doubtful debts, depreciation and all charges, amounts to £27,978 2s, to which must be added the sum of ! £12,853 16s 9d brought forward from last year, making available a total of £40,831 18s 9d. An interim dividend of Is per share was paid for the halfyear ended March 31, 1930, absorbing £22,500, leaving a balance to be dealt with of £18,331 18s 9ct. Out of this the directors propose to pay a dividend of 3d per share for the lialf-vear ended September 30, 1930 (£5625), and to carry forward to next year’s account £12,706 18s 9d. It is also proposed to nay 6d pel share from the insurance account. The mines and plant have been maintained in the usual state of efficiency. Tn terms of the Articles of Association, Air G. L. Denniston and Mr Crosby Morris retire from the board, and. being eligible, offer themselves for re-election. The auditors. Messrs J. S'. Hislop and Geo. AT. ATacLean, also retire and offer themselves for re-elect-ion. Air C. H. Strntham during the vear resigned his position as auditor, and Mr G. Al. AlncLean was appointed by the directors in his place.