The report of the directors for the year ended December 31, 1914, shows a balance to the credit of profit and loss account of Tls. 15,- 259.39 which the directors recommend the shareholders to deal with as follows:—
A Dividend of 3 per cent. Place to the credit of bad del reserve Carry forward to @ ne and loss account"
Tls. 15,259.39
All deaths and losses of Li during the year have been debited to working account.
All vehicles have, as usual, been kept in good order; the expenses for upkeep amounting to Tls. 7,198.- 23 have been paid out of working account, During the whole year the prices of bran and barley were considerably higher than during 1913, and as consequence the cost of keeping our stud was proportionately greater than during the previous year.
Sundry debtors amount to a total of Tls. 38,373.96, including December accounts of Tls. 19,059.31 which were not due until January 1915. Out of the total of Tia 38,373.96 accounts amounting to Tls. 24,296.30 have been collected up to date (March 15, 1915).
Text read from the printed page and cleaned; old type leaves the occasional error.