PICTURE COMPANY

Wairarapa Times-Age, 4 July 1942, Page 5

PICTURE COMPANY

ANNUAL REPORT. The annual report of the Masterton Picture and Entertainment Company Ltd., states inter alia: —We continue to operate in conjunction with the Regent Theatre on a rental and profit and loss sharing basis per medium of Masterton Amusements, Limited. The income was practically the same as last year, but the balance carried to Appropriation Account was £722 as against £452 of the previous year on account of the repairs carried out in the 1940/41 year. In view of the- provision to be made for taxes and other possible contingencies, your Directors thought it inadvisable to distribute as an interim divident at a higher rate than that of last year—--4',2 per cent. This absorbed £675, and shareholders are now asked to approve the action of the Directors in making such distribution. They recommend that no further payment be made in respect of the year just closed but will, if it is found practicable, make an interim distribution later on in the year as funds become available. During the year Mr J. H. Mason resigned from the board of directors, and Mr H. B. Williams was appointed to fill the vacancy. Under the Articles of Association Mr Mason was the retiring director by effluxion of time, so there is a vacancy which you arc now asked to fill. Mr Williams is eligible, and offers himself for election. Mr G. TV. Sellar, of the firm of Sellar and Sellar, offers his services for a further term as auditor.