Healthy
p. 154 · Read in the full issue
Stc Shows Very
Accounts In Papua
Accounts of steamships ti
ing Co., Ltd., of Papua, for * year ended July 31 last, mi a bright picture, reflecting the w endowed position of the Austrax Territories. The year’s net pi was £114,890.
Shareholders during the z have had a bonus issue of one four; and now the Preferen (50,000) receive 10 per cent., the ordinaries (612,523) get Just under £lB,OOO has been ao to General Reserve, and £l3B has been carried forward in I The General Reserve is £500,, Depreciation Reserve £lOO (making shareholders’ funds nearly £li millions), and a S Retirement Fund of £25,000 parently also is employed in business. None of the funds liquid (the company shows a hi overdraft of some £50,000), among the assets are “investmx at valuation, £180,509” and “pi tations at valuation, £172,971 suggesting that every availabli is at work.
This company (which has completed and occupied a fine building in Port Moresby) grown very much in activities financial strength since that pressing day in February, I when, under the bombs of the t vancing' Japs, general evacuatiox the Territory was ordered.