476

THE COLLIERY GUARDIAN.

February 27, 1914.

Frangaise des Mines Powell Duffryn,” in which this company
holds the controlling interest. The actual sinking of the
Britannia pits at Pen gam has been completed, and the rest
of the work in connection with the opening of this colliery
is being proceeded with as rapidly as possible. The sinking
has unfortunately been delayed by the enormous amount of
water encountered, and the great depth at which it had to
be dealt with. The 50 new coke ovens which have been
erected at Bargoed are well forward, and it is hoped to
start them early next month. The managing committee
of directors were re-appointed immediately after the last
annual general meeting, and have continued to carry on. the
active management of the company under the control of
the board. The committee now consists of the chairman
(Mr. J. Shaw, K C.), Mr. C. P. Ogilvie, Mr. A. M. Tapp, and
Mr. W. Woolley.

Rhymney Iron Company Limited.—Before Mr. Justice
Eve in the Chancery Division on the 17th inst., an applica-
tion was made on behalf of the Rhymney Iron Company
Limited to confirm special resolutions passed to reorganise
the capital of the company. The petition was unopposed,
and his lordship granted an order confirming the resolutions.
The special resolutions referred to alter the capital from
200,000 £5 shares into 1,000,000 shares of .£1 each, and
further arrange that these shall be called 400,000 £1
cumulative preference shares, bearing interest at the rate
of 6 per cent, per annum, and 600,000 ordinary shares of
£1 each.

St. Helens Colliery and Brickworks Company Limited.
—Interim dividend at rate of 8 per cent, per annum on the
ordinary shares f<r half-year to December 31 last.

Shelton Iron, Steel and Coal Company Limited.—The
results for the year 1913 show that after providing £19,612
for debenture interest and £20,388 for sinking fund, there
remains an available balance of £50,357, including £9,172
brought forward from 1912. From this amount the directors
have decided to place £10,000 to reserve account and to
recommend a dividend of 5 per cent, (or Is. per £1 share)
carrying forward £18,157.

South Hetton Coal Company Limited.—The directors
announce a dividend of 15s. per share, free of income-tax,
on the ordinary shares for the past half-year, making 11£
per cent, for the year; after placing £1,000 to reserve for
discounts and bad debts and £7,445 for Shipperdson and
Pemberton estates, £12,686 is carried forward.

Swan, Hunter andi Wigham-Richardson Limited.—The
annual report states that, after providing for depreciation
on buildings, plant and machinery, there remains a net
profit of £280,717 on the year’s trading, which, with the
balance brought forward, makes a total of £305,550. After
providing for mortgage interest and sinking fund and
deducting interim dividends, the directors propose a further
dividend on the ordinary shares of 5 per cent., making
7| per cent, for the year, and a bonus of 2| per cent.,
transferring £110,000 to reserve account, £15,000 to
insurance reserve account, £5,000 to income-tax account,
and £5,000 for the benefit of the company’s employees,
and carry forward a balance of £32,261. For the two
previous years the rate of dividend was 7£ per cent.

Tumlock Automatic Coupler Company Limited.—This
private company has been registered, with a capital of
£3,000 in £1 shares, to acquire the undermentioned patents
for certain inventions in relation to improvements in or
relating to automatic couplers for railway and similar
vehicles ; and to carry on the business of manufacturers of,
agents, and concessionaires for, and dealers in automatic
couplings and automatic brake-pipe, and other connections
for railway and other vehicles, iron, steel and brass founders,
metal workers, mechanical, electrical and general engineers,
&c.; also to enter into an agreement with G. J. Coles, G. M.
Wheater, and Gr. Gilham. First directors: G. J. Coles,

5,	Lavender-gardens, Low Fell, Gateshead, Durham; G. M.
Wheater, 13, Prince Consort-road, Gateshead; G. Gilham,
25, Brighton-grove, Newcastle-on-Tyne ; W. J. Lockerby,

6,	Devonehire-place, Newcastle-on-Tyne; H. M. Brown,
Hawthorn-terrace, Newcastle-on-Tyne ; and S. C. Lockerby,
Southolme, Kings-road, Whitley Bay, Northumberland.

Yulcan Boiler and General Insurance Company Limited.
—The annual report shows £62,160 balance of revenue
account, including £9,035 brought forward; £7,500 is
placed to the reserve fund (increasing it to £75,000) ; £1,200
to superannuation and benefit fund; and a final dividend
of 6s., plus 2s. oonus, for 50s. paid shares recommended,
making a total return of 25 per cent, for the year, carrying
forward £9,320.

Waste Heat and Gas Electrical Generating Stations
Limited.—The profits earned by the company during the
year, after deducting administration expenses, amount to
£38,245 Is. 5d., less an amount which the directors have
transferred to the credit of reserve account, £9,500—
£28,745 Is. 5d.; add the balance brought forward from the
previous year, £8,965 Is., and the profits available are
£37,710 2s. 5d. The directors propose to declare a dividend
at the rate of 8 per cent, for the year ending January 31,
1914. which will absorb £25,600 (of this an interim dividend
of 2| per cent, was paid in August, 1913, amounting to
£8,000), leaving a balance to be carried forward of
.£12,110 2s. 5d. The total amount now standing to the
credit of the reserve account is £42,850 18s. 5d., and
the redemption funds in respect of plant supplied on hire-
purchase terms amount to £5,679 3s. 7d. The company
acquired during the latter part of the past year two new
generating stations at Horden and Shotton, in the county
of Durham, where exhaust steam from the works of the
Horden Collieries Limited is utilised. Each of these
stations has a capacity of 1,350-horse power. The shares
which the company holds in the Bankfoot Power Company
Limited are now fully paid, and have yielded a satisfactory
return. The company has taken up £45,100 second deben-
tures of Cleveland and Durham Electric Power Limited,
which have been issued recently under the re-arrangement
of that company’s debenture stocks. These debentures
carry interest at the rate of 6 per cent., and are repayable
by means of a sinking fund in 25 to 30 years. Certain
proposals under which the company will erect further
generating stations for the utilisation of waste heat or
gas are still under consideration, and it is hoped that the
negotiations will be concluded during the course of the
present year.

The Institute of Inventors has removed their offices to
the ground floor of 20, High Holborn, W.C.

THE FREIGHT MARKET.

There has only been a limited amount of business done
in the north-east coast outward freight market during the
past week, and rates are still very low. Coasting transac-
tions have ranged from 2s. 9d. to 3s. from Tyne to London,
with Hamburg at 3?. 3d. to 3s. 4|d. The Bay has Bordeaux
at from 4s. 9d. to 5s. The Baltic is represented by 4s. 6d.
to Kiel for coal, and 7s. 6d. to Riga for coke. The Mediter-
ranean continues with Genoa at 7s. At South Wales
chartering has been fairly active, and Mediterranean rates
are well maintained, with handy-sized boats somewhat
scarce. The River Plate is quiet and unaltered, and the
shorter trades are dull and featureless. At the Clyde the
market is quiet, at unchanged figures. There is very little
doing at the Humber. Homewards, New York advices
report a quiet market and the general position as being
weak. Spot tonnage rates are fairly well maintained, as
owners are not pressing boats upon the market, but forward
positions favour charterers. The Eastern and Australian
markets are slow and easy, with ample tonnage offered.
The Black Sea and district has only a small enquiry, but
rates are fairly well maintained. The Mediterranean and
ore trades are taking up a moderate amount of tonnage, at
steady figures. There is a fair enquiry from the Baltic at
unchanged quotations. The River Plate is quiet, but the
tendency of rates is upward.

Tyne to Antwerp, 3,000,3s. 9d.; Amsterdam, 1,400, 3s. 9d.;
Boulogne, 2,200, 3s. 9d.; 900, 4s. Od.^from Dunston ; 1,500,
3s. 9d. ; Bas-Indre, 2,000, 5s. ; Bilbao, 1900, 5s. 9d.;
Bordeaux, 2,900, 5s., from Dunston; Barcelona, 2,100, 8s.
coal, 9s. 6d. coke, 400; Chantenay, 2,000,5s. 3d.; Christiania,
1,400, 4s. 6d.; Cette, 2,500, 7s. lid.; Calais, 3,400, 3s. 4jd.;
Cannes, 2,300, 8s.; Carthagena, 1,900, 7s.; Couronne, 1,400,
5s. 9d.; Gibraltar, 2,000, 6s., 500 ; 1,300, 6s. l£d.; 2,800, 6s.;
Genoa, 2,800, 7s.; 3,300, 7s., river loading; Hamburg,3,000,
3s. 4|d.; 3,200, 3s. 4|d., voyages over the year; 3,000, 3s. 3d.;

2,100,	2s. 4|d.; Harlingen, 1,500, 3s. 9d.; Havre, 2,100,
4s. l|d.; Holtenau, 1,100, 4s. 6d.; Islands, 2,500, 6s. 6d.;
Kiel, 1,800, 4s. 6d.; London, 1,700, 3s. ; 1,700, 2s. 10|d.;

2.100,	2s., from Derwenthaugh; 3,000, 2s. 9d.; Messina,

3.100,	7s. 6d.; Manager, 1,200, 4s. 6d.; Marseilles, 4,700,
4s. 3d., from Dunston ; 3,800, 7s., 600, river loading ;

2.800,	7s , 700; 3,000, 7s.; Naples, 3,300, 7s„ 1,000;
Norrkoping, 1,600, 4s. 9d.; Oran, 2,000, 6s. l|d.; 2,600,
6s. l|d.; 3,000, 6s.; Ostend, 1,200, 4s.; Port Said, 4,500,
8s., from Dunston ; 4,900, 8s.; 4,500, 7s. 6d., from Dunston;

5,700,	7s. 4id., 400; Riga, 1,250, 7s. 6d., coke ; Rochefort,

1.800,	5s.; Venice, 5,000, 8s., 500; Villaricos, 1,400, 7s. 9d.;
Windau, 1,200, 4s. 6d.

Cardiff to Aden, 9s., March; Alexandria, 7s. 6d., 700,
March; 5,800, 7s. 7|d.; 4,200, 7s. 6d.; 5,800, 7s. 10|d.,
March 2 ; 4,200, 7s. 6d., March 10 ; Ancona, 6,000, 8s., 500;
5,000, 7s. 10|d.; 3,700, 8s. lid., early March ; 3,700, 8s. 3d. ;
Algiers, 4,000, 7i fr. ; 2,600, 7i fr. ; Arosa Bay, option
Gibraltar, 3,600,3s. 3d., Admiralty ; 2,700, 3s. 3d., Admiralty;
Brest, 2,400, 3s. 9d. ; Bordeaux, 2,600, 5| fr.; 3,000, 5| fr.,
500; 3,000, 5£ fr.; Bahia, sail, 15s. 6d.; Braila, 4,700, 8s. 3d.;
Bombay, 9s. 6d., P. and O. terms, early March; Civita
Vecchia, 2,000, 8s.; Calais, 1,300, 4s. 3d.; Cherbourg, 900,
4s. 9d.; Cadiz, 1,200, 6s. 3d.; Caen, 1,850,4s. 3d.; Corcubion,

2.200,	5s. 6d.; Constantinople, 5,300, 7s. 9d., March 5;
Dieppe, 1,900, 3s. 9d.; Danube, 4,500, 8s. 3d., March 16;
Fay al, 1,900, 7s., March 2; Genoa, 3,600, 6s. 3d. ; 6,000,
6s. 3d., early March; 5,500, 6s. 6d.; 3,000, 7s., March 2 ;
Gibraltar, 1,000, 6s.; 2,800, 3s. 3d., Admiralty ; 1,500, 5s. 9d.,
500; Havre, 1,250,3s. 10id.; 1,400, 3s. 9d.; Huelva, 1,900,
5s. 6d.; Harwich, 1,850, 2s. 7id.; Hamburg, 2,000, 4s.;
Islands, 2,700, 6s. 4id.; Lisbon, 2,900, 5s. 3d., 350; 1,500,
5s. 6d., 350; 2,100, 5s. 6d.; 2,800, 5s., 500, 5s. 3d., 350 ; 1,600,
5s. 6d.; 3,000, 5s., 500, March 2; 2,200, 5s. 4£d., 300,
March 3; 3,700, 4s. 10id., 500, March 5; Leghorn, 3,600,
6s. 3d.; 6,000, 6s. 3d., early March; 5,000, 6s. 3d., 500;
4,000, 7s., 500; Las Palmas, 2,700, 6s. 4id.; Liverpool,
1,550, 3s., f.d.; Monte Video, 5,500,13s. 6d., early March;

5.700,	13s. 9d„ March 3; Malta, 3.600, 6s. lid.; 4,400,
6s. lid., March 2; Maddalena, 6,000, 6s. 9d., 500, lOd.;
Naples, 3,500, 6s. 6d., 800; 4,000, 7s., 500; Nantes, 1,750,
5i fr.; 1,300, 5|fr.; Port ^aid, 3,200, 7s. 6d.; 5,000,
7s. 6d.; 5,000,7s. 6d., early March; Pembroke, 1,000, 3s.;
Porto Empedocle, 2,600, 8*?.; River Plate, 4,500, 14s. 4id.;
4,000, 14s. 3d.; 5,000, 14s. 4|d. ; 6,000, 13s. 6d., early April
cancelling; 6,000, 13s. 9d., mid-March ; Rouen, 1,500,4s. 9d.;
Rio de Janeiro, 5,000, 13s. 6d., early March ; 5,300, 13s. 6d.,
March 12; Rosario, 3,500, 15s.; 5000, 15s., early March;
Savona, 3,000, 7s, March 2; 3,600, 6s. 3d.; 6,000, 6s. 3d.,
early March; St. Servan, 2,200, 3s. 10jd.; Spezzia, 3,600,
6s. 3d.; 6,000, 6s. 3d., early March; 3,000, 7s., March 2;
St. Michael’s, 2,200, 6s. 6d., March 4; 2,000, 6s. 9d. ;
St. Malo, 750, 5s.; Sousse, 3,000, 9| fr.; 350, March 2;
St. Nazaire, 2,200, 5|fr.; 3,300, 512|fr., March 2; 1,500,
5i fr.; Santos, 5,000, 13s. 6d., early March; Tripoli, 3,300,
9s. 6d.; Tunis, 3,000, 9|fr., 350, March 2; Venice, 3,700,
8s. 3d.; 3,400, 8s., 400; 6,800, 8s.; 6,000, 8s., 500; 5,000,
7s. 10id., 600, early March; 3,700, 7s. lid., early March;
Vigo, 2,800, 3s. 3d.

Swansea to Mersyne and Jaffa, 2,200, 9s 6d. coal, 10s. 3d.
fuel; Ancona, 3,300, 8s. 6d.; Leghorn, 2,000, 7s. 3d.; Caen,

1.200,	4s. 7id.; Rouen, 1,000, 5s. 3d.; 1,500, 5s. lid.; 1,500,
5s.; 2,300, 4s. 9d ; Stettin, 1,500, 5s. 3d.; La Rochelle,

1.700,	5| fr.; Honfleur, 1,300, 4s. 9d.; Venice, 2,700, 8s. 6d. ;
Oran, 2,200, 8i fr.; Valencia, 2,200, 7s. 4id., fuel; St. Malo,

1.100,	4s. 9d.; Dieppe, 850, 5s.; 900, 4s. 6d.; Reval, 1,800,
5s. 6d.; Spezzia, 2,000, 7s. 9d. coal, 8s. 6d. fuel, March 2;
Nice, 1,100, 8s.; Barcelona, 2,000, 8s. coal, 8s. 9d. fuel;
Barletta, 1,100, 8s. 6d.; Brest, 1,250,4s.; Carthagena, 1,300,
7s. 3d.; Sables, 1,500, 5ffr. coal, 6|fr. fuel; Honfleur, 1,400,
4s. 9d.; Aalborg, 2,000,4s. 9d., March 2; Palamos, 1,200,8s.,
steamer paying tax.

Blyth to Constantinople, 3,700, 7s. 6d. ; Messina; 3,100,
7s. 6d., 400; Riga, 3,500, 5s.; Boulogne, 1,500, 3s. 9d.;
Helsingborg, 4s. 3d.

Seaham Harbour to Hamburg, 3.000, 3s. 4id.; Libau,
1,000, 5s. ; Fairwater, 2.000, 4s. 4id.

Garston to Genoa, 2,600, 6s. 6d.

Hull to Bordeaux, 1,600, 5s. lid. ; Rouen, 1,600, 4s. 6d. ;
Reval, 2,600, 5s. 4id.

Port Talbot to La Rochelle, 2,400, 5| fr.

Newport to Civita Vecchia, 1,500, 7s. 9d. ; Gibraltar,
1.900, 6s. ; Bilbao, 5s. 6d. ; Algiers, 7i fr. ; Buenos Ayres,

5.200,	14s., March ; 6,000, 14s., early March ; River Plate,
6,000, 14s., early March ; Venice, 5,000, 8s., 500, March 4 ;
Ancona, 5,000, 8s., 500, March 4 ; Alexandria, 3,800, 7s. 6d.,
March 15 ; Marseilles, 3,000,8 fr., 600, March 10 ; Corcubion,
2,600, 5s. 6d., March 3.

Grangemouth to Buenos Ayres, 4,000, 14s, February-
March.

Wear to Monte Video, sail, 15s.; Hamburg, 2,100, 3s. 4id.;
Bayonne, 1,700, 5s. 4d., 500 ; Rochefort, 2,000, 5s. 3d., 500 ;
Norrkoping, 1,650, 4s. 9d. ; Holtenau, 1,100, 4s. 6d.

Wales to direct nitrate port, sail, 15s. 6d., April.

Leith to Bruges, 900, 4s.

Llanelly to Dieppe, 850, 5s.; 1,200, 4s. 9d. ; Calais, 1,400,
4s. 3d. ; Boulogne, 1,400, 4s. 3d.

Forth to Horsens, 1,700,4s. 6d. ; Rouen, 1,800, 4s. 4id.

Hamburg to copper ports, West Coast South America,
sail, 17s. 6d., coke, reported; Jacksonville and Charleston,
4,000, 9?. 6d.; 5,000, 9s. 6d.; Santos, sail, general cargo, p.t.

Rotterdam to Chantenay, 2,900, 4s. 3d.; Barcelona, 5,200,
7s. 6d.; 5,800, 7s. 3d.; Leghorn, 4,000, 6s. 9d. coal, 7s. 6d.
fuel; Bordeaux, 3,900, 4?. 6d. coal, 5s. 3d. fuel; 3,400,
4s. 6d.; Porto Vecchio di Piombina, 5,250, 7s. l|d. ; Bagnoli-
Porto Ferrajo, 5,800, 6s. 6d.; Bilbao, 1,900, 4s. 6d. coal,
5s. 3d. fuel, beginning of March.

Glasgow to Algiers, 6s. 6d.

Methil to Genoa, 2,500, 7s. 3d.; Savona, 2,500, 7s. 3d.;
Leghorn, 2,500, 7s. 3d.; Hamburg, 2,100, 3s. 7id.

Hartlepool to Genoa, 3,800, 7s. 3d.; 3,800,7s l|d.; 2,800,
7s.; Hamburg, 2,500, 3s. l|d.; Bordeaux, 3,000, 5s. 3d.

Gefle and Sundswall to Melbourne, sail, 1,000 stds.,
57s. 6d., floorings. July.

Warkworth to Norrkoping, 1,500, 4s. 9d.

Glasgow to Buenos Ayres, 14s. 6d.; 14s., 200, March 9;
Genoa, 3,600, 6s. 9d.; Savona, 3,600, 6s. 9d.; Leghorn, 3,600,
6s. 9d.; Alexandria, 6s. 6d. ; 6s. 7|d.; Brindisi, 8s. l|d.,
400, 7s. 10|d., 500, pitch.

Grimsby to Solvesborg, 1,000, 5s.

Partington to Buenos Ayres, 4,500-5,000, 13s. 9d., 250,
13s. 6d., 300, March 1-15.

Leith to Tonsberg, 750, 5s. 3d.

Burntisland to Aarhuus, 850, 4s. 10|d.

Emden to Genoa, 7,000, 7s. l|d.; Savona, 7,000, 7s. l|d.

Antwerp to Callao, sail, 22 fr., coke.

CATALOGUES ABID PRICE LISTS RECEIVED.

From Chas. H. Blume (Mitcham) we have received a
small leaflet dealing with the " Megomac” and “ Insulae”
varnishes for electrical purposes.

Messrs. Mayor and Coulson Limited (of 47, King-
street, Mile End, Glasgow), in their February date card,
give some useful hints with regard to the use of “ Pick-
quick ” cutter picks.

Messrs. Meldrums Limited (Timperley, Manchester)
issue a leaflet reproducing some highly satisfactory testi-
monials as to the reduction in fuel costs resulting from the
use of their furnaces. These furnaces seem to burn any-
thing.

Messrs- John Hudson and Co.’s Successors (4, Victoria
Warehouses, Mansell-street, E ) send us a little booklet
relating to “ manganesite ” and its use as a packing material
for steam joints. A report on tests carried out by Prof.
Josse, of Berlin, is also given, which shows the adaptability
of the paste to high pressures. It is sold in the form of
paste or as a compound.

The hire-purchase system has extended to commercial
motor vehicles. The Bentinck Motor Supply Limited, of
13, Spring-gardens, Manchester, undertake to supply any
car of Belsize make on the gradual payment system. The
cost complete of a Belsize 3-tonner, with body and accessories,
is about £630. Twenty-five per cent, of the amount is paid
on delivery—£157 10s.; then add only 2 per cent, to
remainder, which is £481 19s., and that amount can be paid
by 12 monthly instalments of £40 3s. 3d. each.

We have received from Messrs. John Musgrave and Sons
(1913) Limited (Globe Ironworks, Bolton), a pamphlet
relating to their steam-driven cross-compound air-com-
pressors, fitted with Hoerbiger and Rogler patent friction-
less automatic valves. These valves are made in sizes and
lifts from 50 mm. diameter to 600 mm. diameter, 1 min. lift
to 5 5 mm. lift, and can be used for speeds up to 270 revolu-
tions with the smaller sizes, or for speeds as low as
5 to 6 revolutions. The valves are very sensitive in opening
and closing, due to the narrow facings on seats and light-
ness of closing springs.

Messrs. Bruce Peebles and Co. Limited (Edinburgh) have
sent out a new edition of their price list dealing with open-
type and end hood pedestal type induction motors. The
second type are specially designed for direct coupling to fans,
pumps, and similar apparatus, the bearings being carried
on supports cast as part of the end hoods, instead of being
mounted on a separate bedplate, whilst the slip-rings with
their gear are overhung at the end remote from the
coupling, and a protecting cover is fitted, the shaft being
made hollow for a portion of its length to carry the
connecting leads from the rotor windings to the slip-rings.

Hull Coal Exports.'- The official return of the exports of
coal from Hull for the week ending Tuesday, February 17,
1914, is as follows :—Antwerp, 2,328 tons ; Amsterdam, 958;
Alexandria, 2,459 ; Aalborg, 1,362; Alderney, 126 ; Bruges,
745; Brunsbuttel, 1,570; Boulogne, 1,305; Buenos Ayres,
6,031; Bremen, 1,502 ; Copenhagen, 353; Christiania, 2,819;
Christiansand, 330; Elsinore, 911; Frederica, 650; Guernsey,
227; Ghent, 158; Harlingen, 1,073; Harburg, 563; Ham-
burg, 1,884; Libau, 3,233 ; Novorossisk, 1,931 ; Oporto,
1,171; Rotterdam, 4,057; Riga, 2,019; Reval, 1,906; Rouen,
9,486; Stockholm, 940; Santos, 2,756; Skien, 201; Torre
Annunziata, 2,343; Tromso, 2,596; Windau, 1,708; total,
61,703 tons. Corresponding period February, 1913, total,
65,303 tons.