PICTURE COMPANY

Wairarapa Times-Age, 27 July 1940, Page 7

PICTURE COMPANY

annual report. DIVIDEND OF SIX PER CENT. RECOMMENDED. The following is the report of the Masterton Picture and Entertainment Company, for the year ended March 31:— “Your Directors have pleasure in presenting the Annual Report and Statement of Accounts for the year ended 31st March last, being the twen-ty-seventh year of the Company s operations. The Company continues to operate in conjunction with the Regent Theatre on a rental and profit sharing basis per medium of the Masterton Amusements, Limited. The year's result must be regarded as satisfactory, although the net return is some £lB6 below last year’s, owing to the nonliability last year for income tax because of the loss on realisations of the Wurlitzer. We recommend the payment of a dividend of six per cent on the paid up capital of the Company. This will leave a balance of £220 8s 6d in the Revenue Account available for payment of the additional taxation which was not provided for at March 31. The appointment by the Directors of Mr R. J. Kerridge to the vacancy occasioned by Doctor Cook s death, which vacancy was not filled at last general meeting will require to be confirmed. Doctor Cook would have been a retiring Director, so that Mr Kerridge, together with Mr Press, who also retires in accordance with the Articles of Association, arc the retiring Directors. Mr Kerridge is eligible, and offers himself for re-election, but Mr Press does not seek re-election. Mr G. W. Sellar offers his services for a further term.” The report is signed by Mr A. C. Davis, Chairman of Directors.