General Stocks, certified by the general manager, amouitt to Tls. 509,275.58, as against Tls. 486,110.40 on December 31, 1921. Your directors hoped that the stocks would have been reduced during the year, but this was not possible, owing to the arrival of' goods ordered in 1921. They, however, confidently expect that this account will be considerably reduced during the current year. The stocks have been taken, item by item, by Messrs Lowe, Bingham & Matthews and can therefore be relied upon.
Sundry Debtors, Tls. 136,358.71, consist of general sundry debtors amounting to Ts. 128,519.19,- leaving a balance of Tls. 7,839.52, representing various deposits, etc., of which, however, Tls. 3,300 have since been paid. Out of the amount of Tls. 128,519.19 December accounts, payable only in January, came to Tls. 63,251.41, and out of the total of Tls. 128,519.19, the sum of Tls. 79,217.06 has since been collected.
Text read from the printed page and cleaned; old type leaves the occasional error.