27 JUNE 1931, Page 36

PATONS AND BALDWIN'S.

The Report of Patons and Baldwin, Limited, for the past year is a good one. A- year ago the necessity of writing down stocks, owing to the great rise in the price of wool, occasioned a drop in the profits from £133,000 to about £17,600. For the past year, however, there was a profit after making provision for depreciation of buildings and losses in connexion with Australasian exchanges, of £112,186. The directors are able to pay 24 per cent. on the Ordinary shares, free of tax, with an increase in the carry forward.

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