In presenting to the shareholders the 26th annual report, the Directors have much pleasure in submitting with it the statement of accounts for the year ending December satisfac ition of the Company.
Bist, 1889, showing a3 it docs the continued
from which had to be deducted two semi:
The net profit for the year is Tis, 43,476.30, annual dividends of Tls. 12,000 each, one paid on 9th July last, the other since the accounts were closed, Tis, 11,149.67 written off for depreciation of land, buildings, plant, ete., and Tls. 7,050 carried to Reserved Fund Account, bringing that amount up to Tls. 90,000; the actual balance carried forward to'this year's account being Ts. 3,531.50.
The policy of writing off s much as poseifrom the book values of all the property,
Text read from the printed page and cleaned; old type leaves the occasional error.