The following is the Report of the Directors, to ented at the Annual Meeting, to be held at ong on the 15th inst.
The Directors have now to submit to you a General Statement of the affairs of the Corporation and Balance Sheet for the Half-year ending on 31st December last.
The net profits for that period. including $70,674. It brought forward from last Account, after paying all charges, deducting interest paid and due, and mal full provision for bad debts, amount tu $460,649. of which, after taking out Rebate on Bills not yet clu amd remuneration to Directors, there remains for appropriation $449 rom this sun ctors recommend the distribution of a Dividend of $7.50 per share on the Paid-up shares, and of $1.50 per share on the New be. ing equivalent to Six per centum for the halt-y this will absorb $180,000; and of the balance, the Directors carrying §$200.000 to the Reserve 4 to the Credit of New Profit and
Text read from the printed page and cleaned; old type leaves the occasional error.