WELLINGTON PATENT SLIP COMPANY (LIMITED).

New Zealand Times, Volume XXXIII, Issue 5329, 26 April 1878, Page 5

WELLINGTON PATENT SLIP COMPANY (LIMITED).

The following report and balance-sheet will be submitted to shareholders at the meeting to be held on Monday next : “ The directors have to present the annual statement of accounts, and to report that the business of the company continues steadily to increase, the tonnage taken on the Slip being 2230 tons in excess of the previous year. The vessel built at the works has been completed and sold ; but the result has not been sufficiently encouraging to induce the directors to commence another, unless to special order. In consequence of Mr. Pearce leaving for England, he resigned his seat at the board ; Mr. F. A. Krull was elected to the vacancy. On receipt of the subsidy from the Government, the directors recommend the payment of a dividend at tho rate of 5 per cent. Two of the directors retire by rotation, viz., Messrs. W. M. Bannatyno and Geo. Hunter, who, being eligible, offer themselves for ro-eloction. —Geo. Honteb, Chairman.” Balance-Sheet, 31st March, 1878. Cr.

By property and assets, viz.: To capital—3700 shares, £10 each, 3052 £30,530 0 0 shares paid up Debentures 3,000 0 0 Sundry debts owing by the company 317 9 4 Bank of Australasia 2,108 12 1 Front and loss 3,510 11 3 £30,780 15 It Dr. By profits and assets, viz.: Freehold buildings, csti*) f 3,050 0 0 mated .. .. y at cost -j 1’lant—Slip & materials J I 33,410 7 !) Office furniture 45 5 G Subsidy duo 31st March 2,450 0 0 .Sundry amounts owing to the Com* 07 0 pany 2 Stock in hand 725 14 0 Cash in hand 7 18 10 £30,780 15 11 I’liom' AND LOSS ACCOIWT. To charges—Expenses working Slip and 9 repairs to machinery . £1,581 15 473 15 Interest 1 Stock and vessel .. General Expenses: 105 0 Directors 0 Auditors 10 10 0 Insurance 29 0 0 Legal charges . 0 10 1 Hoad rates 7 10 0 Office rent . 50 0 0 Advertising and sundries .. 87 10 8 Repairs to buildings 21 10 10 Balance .. . 3,810 14 3 £7,042 6 9 By balance, 31st March, 1877 £3,025 19 0 Slip dues 1,207 14 0 Subsidy duo 3ist March, 1878.. 2,450 0 0 Profit on repairs and sundries 203 12 3 Kents . 05 0 0 £7,012 5 9 Audited and found correct. E». VT, Millb, F. C. Kueefjl’, j-Auditors.