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A S ATIS FA CTO R Y R EP O R T.
T h e D ire c to rs o f th e P e r p e tu a l
T riistei-s B x c u u to rs a n d A goqcy C o m ­
p a n y of T a s m a n ia , L im ite d , w h o se
hond office js s itu a te in S to n e B u ild ­
in g s aod w bohc m a n a g e r is i l r .
E m v.um H aw so x , h a r e ju st issued
th i.ir r e p o r t fo r th e p e rio d e n d in g
.'Hi*t D e c -m b e r, I 8 J1G. T h e r e p o r t
u nd a c c o u n ts fh o w ih e coiom issioo
a n d iub'rcfil fo r th e h a lf-y e a r h aa
been £77-1' 21?. I d ., b a la n c e fro m la s t
h a lf-y e a r £ G 19 4b. d d ., m a k in g n to ta l
f £ 1 3 9 3 7s, 7d., ric d n c iin g cxpcD ees
of m a n a g e m e n t £ 3 J ] 15s. 10d , le av e s
•dir ft balatict- o f £ 1 0 8 1 U
T h e d irc c fo is propoBc to p a y a div i-
d e n d a t th e r a te of six p e r c en t, p e r
a n n u m , w h ic h w ill a b s o rb £ 3 0 0 , a u d
d iv id e n d ta x £ 1 5 . T h e y also p r o ­
pose to a d d £ 5 0 0 to tlie R e se rv e
F u n d , h a v in g a b a lan c e of £ 2 0 6 I l s ,
98. to be c a rrie d for w ard . T h e a c c o u n ts
how th a t th o C o m p an y h a s b e en
m a n ag e d a d m ir a b ly ,n o d th e d ir c c to rs
to bo c o n g ra tu la te d opoa th e
h a lf-y e a rly re p o r t. L o o k in g u t th e
f a c t t h a t th e p a id u p c a p ita l o f th e
C o m p an y is £ 10,000, a n d t h a t th e re
is a R e se rv e F u n d o f £ 3 5 0 0 , th is js
a r e s u l t of w h ic h th e C o m p an y m ay
wt JJ h e p ro n d of. W e n o lo th a t th e
D ir e c to r s p la c e u p o n re c o rd w ilh re*
g r e t th e <Jeath o f th e eo*D i<ector,
M r. J W - S v u r , a n d t h a t th e y do n o t
o n s id e r if a d y is s b io t o flji u p th e
v a c a n c y , th e re b y r e d u c in g t h e t n u m ­
b e r of d ir e c to r s to fo u r. W e tb iu k
t h e fchai'eholderfi s h o u ld a d o p t th is
reso lu tio n fo r th e f o u r D ir e c to r s , w ho
a re m en of b u sin e ss a n d ta c t, sh o u ld
bo a ble to m a n a g e th e b u sin e ss in
f u tu r e a s in th o p a s t w ith c a r e , d isc
re tio n , a u d success.
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