The Electrical Engineer Volume 19 (Paperback)

This historic book may have numerous typos and missing text. Purchasers can usually download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1897 edition. Excerpt: ...George Franklin, Broomfield, Sheffield (chairman); Joseph Gamble, Southbourne, Sheffield; William Samuel Laycock, Oak brook, Sheffield; George Senior, Elmfield, Sheffield; William Tssker, 1, Parker's-road, Sheffield. Manager and secretary: William Johnson, M.I.E E. Report of the directors to be submitted to the sixth ordinary feneral meeting of shareholders to be held on Wednesday, larch 31, 1897, at the Cutlers' Hall, Sheffield, at 12 noon: The accounts, made up to December 31 last, show the balance of profit as follows: s. d. Balance from last account 87 18 11' Net profit for the year 7,635 4 8 7,723 3 74 From which must be deducted: Interest on debentures 1,125 0 0 Balance of formation expenses written off, 445 9 0 Transfer to depreciation fund 1,000 0 0 2,570 9 0 Leaving a balanoe of 5,152 14 7i The directors recommend the payment of a dividend after the rate of 7i per cent, per annum, free of income tax, which will absorb 4,053 1 8 Leaving a balance of 1099 12 11/, Out of this the directors have set aside a reserve fund of 1,000, leaving a balance of 99. 12s. ll d. to be carried forward. The issue of shares referred to in the last annual report was wholly taken up, and realised a premium of 1,739. 10s., which it is proposed to transfer to the credit of the depreciation fund, making a total of 4,739. 10s. now standing to the credit of that fund. The whole of machinery and plant of the Company is in excel lent order and condition. Of the 14,000 shares into which the Company's authorised capital is divided there only now remains unissued 1,896 shares, and these the directors propose at once to offer to the shareholders in proportion to their present holdings; but in view of the...