NORTHERN STEAMSHIP COMPANY. NEW VALUATIONS.—DEFICIENCY, £20,000.
The- Northern Steamship Company's report showed a neb profit for the halfyear of £5,417, After paying a number of outstanding liabilities the- balance at Bank now stands in credit £378, and the prospects are most hopeful for the ensuing year. The diiectors, however, state that they deemed it advisable to. make- nev» valuations, und 6nd that there is a deficiency of some L 20,000 between their, valuation, and that shown in the previous balance sheets issued by the late management. The writing off of this amount is a very serious thing to the Company, and we have postponed doing so until the matter has he n submitted to youand theshareholdersathome. Jtmu&t be dealt with bel'oie we can resume the position of a iViviiienrl paying company. The report and balance sheet were adopted, and the directors and auditor re-elected.
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Te Aroha News, Volume VI, Issue 373, 1 June 1889, Page 2
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144NORTHERN STEAMSHIP COMPANY. NEW VALUATIONS.—DEFICIENCY, £20,000. Te Aroha News, Volume VI, Issue 373, 1 June 1889, Page 2
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