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The surplus for the year is £72,905 4s. 2d., and after writing down business purchase account by £1,500, the net surplus, being balance of profit and loss is £71,405 4s. 2d. which the directors have resolved to apply as follows :

In payment of a dividend for the year, declared this day,

of 22s. per share, free of income tax (being 22 per

cent on the original paid up capital) and an extra

dividend of 2s. per share, which will absorb the sum of £28,800 0 0 and of which, as an interim dividend £6,000 or 5s.

per share was paid 28th September last; the balance

of 19s. per share will be payable on and after the

30th inst.

In adding to the fire fund    40,000 0 0

do   reserve fund    1,191 4 2

As a gratuity to the head office staff   1,414 0 0


£ 71,405 4 2

The fire and reserve fund will then stand at X420,349 1211

The total assets of the company now amount to    £2,159,678 19 1

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