The directors' report and statement of accounts for the financial year ended December 31, of the New Engineering and Shipbuilding Works, Ld., has been prepared for presentation to the shareholders at the annual general meeting to be held on April 11.
The balance at credit of profit and loss account (including Tls. 7,644.42 brought forward from 1914) amounts to Tls. 180,616.98. From this are deducted the following }amounts: Tls. 95,947.65 interest, Tls. 1,130.59 bad debts, Tls. 3,643.12 general manager's commission, Tis, 7,183.41 bonus to. managers, Tls. 3,000 directors' and auditors' fees, Tls. 20,000 depreciation, leaving a balance available for dis: ribution of Tls. 119,714.51.
The directors recommend the following appropriation Dividend, 18 per cent.
reserve fund divi Foreshore depreciation Carry forward balance 119,714.51
Text read from the printed page and cleaned; old type leaves the occasional error.