The General Manager submits a statement of accounts for the twelve months ending December 31, 1907.
The Directors exceedingly regret the unfortunate result of the year's working, but it must be borne in mind that prices of yarn have fallen approxi mately Tls. 10 to Tle. 12 per bale ce the beginning of 1907, as a consequence of which several of our customers had to suspend payment, and the Company were obliged to retell the yarn at a corresponding lose, which aggregates Tls. 27,756.52. the outlook was very gloomy all through the summer, the mill was put on reduced production, thereby naturally.|somewhat increasing the cost of production per bale.
The balance at credit of Profit and Loss Account at the close of the year after allowing for interest, Directors' and Auditor's fees and General Manager'e commission, amounts to deal with as follows },129.27, whicl directors
To write off 2h per cent machinery -Tls. 17,153.04 for depreciation of
Write off 10 percent for deprecia Write off 25 lia i " 286,
for depreciation of buildings "6,791.99 absorbing altogether. Tls. 24,231.58
Text read from the printed page and cleaned; old type leaves the occasional error.