PROFIT AND   LOSS  ACCOUNT.
July 31,   1905.

CREDIT.

By Balance July 31,  1904____  ....._____$671,503.01

"   Surplus July 31,  1905.....-------------------506,396.43       $1,177,899.49
 

LESS.

Dividends   paid   on   the   Preferred   Capital
Stock, viz.:—
No. 5. Oct. 15, 1904, one per cent, and

No. 6, April 15, 1905, one per cent____$200,000.00

Depreciation Account_________________-_    21,210.82

Charges Applicable to  1904 Account--    --      3,978.07           225, U
 

Surplus July 31,  1905___________________$952,710.60