Morris Hedstrom Ltd
p. 22 · Read in the full issue
Steady Trading By
ALTHOUGH the volume of trad ing was fully maintained, the net profit of £97,353, for 1952- 53, of Morris Hedstrom Ltd., operat ing in Fiji and adjoining groups, was about £lO,OOO under that of the previous year—mainly due to world movements in merchandise.
After providing a 6 per cent, on preferences (£219,206) and 10 per cent, on the ordinary capital of £520,407, calling for about £66,000, the company adds some £30,000 to its Profit and Loss Account carry over, which now is no less than £351,000.
This rich company has no less than £1 million (over and above its subscribed capital and its current obligations) tucked away in various reserves; and practically the whole
Territories Talk-Talk does not appear this month because Tolala is having an enforced spell in Con cord Repatriation Hospital, Sydney.
We hope that he mill be sufficiently recovered for this popular feature to appear again in August issue.
of it is disclosed on the balance sheet in the shape of cash (£527,000) and its holding of stocks and shares (£300,000).
The Directors point out that a substantial part of the company’s large cash balances probably will be required for the erection of the new South Seas Hotel in Suva, which is now proceeding.
Directors are Messrs. H. E. Snell, R. Crompton, R. A. Crompton, B.
H. Marks, John Dowling, J. M. Hed strom and R. C. Evetts.