KAIAPOI WOOLLEN COMPANY

Taranaki Daily News, Volume LI, Issue 206, 20 August 1908, Page 2

KAIAPOI WOOLLEN COMPANY

By Telegraph.—Press Association. Ohristchurch, Last .Night, The report of the directors oi the* ilaiapoi Woollen Manufacturing Co., Jjtil., Jor the year ending July 31st,* 1908, which is to be presented at the annual meeting of the shareholders 0:1 August 2tith, states that notwithstanding the sqj'ious dislocation of trade caused by the late lire, tile directors anticipate that the report and balancesheet would 'be considered satisfactory by' the shareholders. The plant had besn kept at the usual high standard of efficiency by the expenditure of £3007 on new machinery, and £181!) on necessary repairs. The sum of £3400 had been provided for depreciation. Stock had been carefully taken at present values, and provision made for all 'bad debts. After paving tihe interim dividend of 3 per cent., which alwofScd £34,000, the profit and loss account showed an available balance of £7402 5s 2d, which the directors recommended should be allocated as follows:—Dividend of 4 per rent, for the half year, making 7 per cent, for the year on ordinary shares, and 011 preferential shares a dividend at the rate of 11 1 /. per cent, per annum from allotment. and £ISOO to reserve; the balance of £1432 to be carried forward.