LOAN AND MERCANTILE COMPANY.
THE ANNUAL REPORT.
Received Dccemler 13, 7.30 p.m. London, December 13, The. annual report of the Neiv , Zealand Loan and Mercantile Agancj Company, shows tlio gross earnings for thoyear to be £254(514, and the debit balance £28,893. The Auditors suggest tlmt furthor large provision be inado for deficits in respect of properties and loans. The report states that the debt is due to the inclusion of 15 months' interest on the prior lien A debentures, and that if only a year's interest had been taken into account, the result would havo been a credit of £3,207. The call had alroady produced over £500,000, Tlio businoss was well maintained, Tlio sum of £640,956 had been deducted from the book valuo of tho assets, to meet actual and contingent losses, and further large deficits would be dealt "with iu the future. The Auditors report that £640,956 will not be sufficient, and that a further sum of £847,940 may be required.
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Wairarapa Daily Times, Volume XVI, Issue 5207, 14 December 1895, Page 3
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162LOAN AND MERCANTILE COMPANY. Wairarapa Daily Times, Volume XVI, Issue 5207, 14 December 1895, Page 3
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