DALGETY & CO., LTD.

Wairarapa Age, Volume XXIX, Issue 8305, 7 December 1906, Page 7

DALGETY & CO., LTD.

The following is the 22nd Annual Report of the directors of Messrs Daigety and Co., Ltd.: The Directors have much pleasure in submitting their Twenty-second Annual report and Balance Sheet, showing the results of the Company's operations during the twelve months endeclthe 30th June last. The Balance Sheet shows that, after providing for had and doubtful debts, depreciation in value of securities, interest on Debenture Stock and Debentures up to 30th June, and payment of Income Tax, there remains to the credit of Profit and Loss Account, including the Balance brought forward from last year, £165,38017s Bd. In May last an interim dividend was paid at the rate of 6 per cent, per annum, for the half-year ending 31st December, amounting to £30,000, leaving a balance available of £135,380 17s Bd, which the directors recommend should be appropriated as follow?: — £30,000 in payment of a Dividend at the rate of 6 per cent, per annum, free of income tax, for the half-year, making with above payment 6 per cent for the year; £IO,OOO in payment of a bonus of 1 per cent for the year ended 30th June last, free of income tax, £35,000 to the Reserve Fund, thereby raising it to £200,000; £5,000 to the foundation of a Staff Benevolent Fund, and £55,380 17s 8d carried forward ; total, £135,380 17s Bd. The London manager, Mr E. V. Reid, is now on his way home after a tour of inspection of all the branches. The Directors feel sure that the knowledge he has thus acquired, both of the Company's business in Australasia and of those who have the management of it, will be of material advantage in the future. The season, which opened dry in some parts of Australia, may now, thanks to the copious and general rains which have fallen, be considered fully assured. In accordance •with the Articles of Association, E. T. Doxat, Esq., W. O. Gilchrist, Esq., and the Hon. E. W. Parker \retire from the Board, but, being eligible, offer themselves for reelection. The Auditors, Messrs Gerard Van De Linde and Son, offer themselves for re-election.