644

THE COLLIERY GUARDIAN.

March 20, 1914.

COAL, IRON AHD EKGIHEERIHG COUPAHIES.

Baldwins Limited. — The directors have declared an
interim dividend of 2| per cent., free of income tax, on the
ordinary shares for the half-year ended December 31 last.

Beardmore (William) and Co. Limited.—The net profits
for the past year, including .£204,461 brought forward, were
.£368,697 after providing for debenture interest and depre-
ciation. The directors place £50,000 to the preference
dividend reserve, and recommend a distribution of 5 per
cent, on the ordinary shares, carrying forward .£186,947.

Bearpark Coal and Coke Company Limited. — The
directors state that the net profit for the year amounts to
£97,989 17s. 8d. The balance brought forward from, last
year was £3,142 15s. 6d., making .£101,132 13s. 2d., which
the directors recommend should be disposed of as follows :
In dividends, 45 per cent, for the year, .£85,050; reserve
account, .£10,000; balance carried forward, £6,082 13s. 2d.

Bell Brothers Limited.—The annual report states that
the company's operations for the year 1913 have resulted in
a profit of £130,736 10s. 7d., to which must be added the
balance of undivided profit brought from the year 1912,
amounting to £20,264 19s. 2d., giving a total of £151,001
9s. 9d. Out of the above the following amounts were pro-
vided up to December 31, 1913:—Interest on 4 per cent,
debenture stock for 1913, £15,681 6s. 6d.; dividend on 6 per
cent, preference shares for half-year to June 30, 1913,
£15,000; interim dividend on ordinary shares of 5 per cent.,
paid September 10, 1913, £13,500; amount carried to
reserve fund, £15,239 0s. 6d.; extensions and improve-
ments written off, £36,934 6s.; income-tax, £2,000—total,
£98,354 13s. This left a sum of £52,646 16s. 9d., and since
December 31, 1913, the following has also been paid
thereout:—On February 1, 1914, dividend on 6 per cent,
preference shares for half-year to December 31, 1913,
£15,000, leaving still to be dealt with £37,646 16s. 9d.
The directors recommend the following appropriation of
this balance:—Final dividend on ordinary shares at 5 per
cent., free of income-tax, £13,960 5s. 6d.; balance carried
forward, £23,686 Ils. 3d.

Berthlwyd Colliery Limited.—This private company has
been registered, with a capital of £60,000 in £10 shares, to
carry on the business of colliery proprietors, miners, manu-
facturers of patent fuel and coke, &c., smelters, founders,
iron and steel converters, and to deal in coal, slack, iron,
steel, and other metals, and minerals, &c. Signatories:
D. Williams, D. D. Williams, J. A. Thomas, and G. E. A.
Thomas. Registered office : The Park, Growerton, Glam.

Boeket Soenoer Syndicate Limited. — This private
company has been registered, with a capital of £4,000 in
£1 shares (1,000 deferred), to acquire from P. A. Reuss,
Hazlewood, Sheffield, certain rights in respect of a coal
concession known as the “ Boeket Soenoer Coal Concessions,"
in the island of Sumatra, and to prospect, examine, test,
and prove the said concession, and any concession, whether
in the island of Sumatra or elsewhere, containing coal or any
other mineral, and to turn to account same, &c.; also to
enter into an agreement with P. A. Reuss. First directors :
T. Groldney and J. H. Ronaldson. Registered offices : Bevois
House, Basinghall-street, E.C.

British Insulated and Uelsby Cables Company Limited.
—The report for the past year discloses profit amounting
to £247,351, while £74,231 was brought forward. After
paying directors' and trustees' fees, debenture interest, &c.,
the directors write off £22,000 for depreciation on building
plant, machinery, &o., transfer £20,000 to reserve, £8,500
to special reserve account, £5,000 to first mortgage deben-
ture stock account, and write £35,000 off patents and
goodwill. The directors recommend a final dividend of 9s.
per share on the ordinary shares, making 13 per cent, for
the year, and carrying forward £98,267.

Coltness Iron Company Limited. — The directors have
declared an interim dividend of 4 per cent, (actual) on the
ordinary shares.

Doxford (William) and Sons Limited.—The report for
the year ended December 31 last states that the balance of
profit and loss account unappropriated is £100,758, which
the directors recommend should be disposed of as follows :
Dividend on preference shares for half-year to December 31,
1913, £6,250; final dividend on ordinary shares, £5,000;
bonus on ordinary shares, £15,000; general reserve account
(making it £145,000), £35,000; reserve account for equali-
sation of dividends (making it £115,000), £36,000; leaving
to be carried forward, £3,508. The sum of £28,131 has been
applied towards maintenance and depreciation of buildings
and plant.

Dundee Coal Company Limited.—The report for the year
ended December 31 last states that the last balance-sheet
of the Dundee Coal Company was to September 30, 1912,
and that of the late St. George's Company to December 31,
1912, therefore the accounts now presented cover a period
for Burnside mine of 15 months, and for the St. George's
mine 12 months. At the extraordinary meeting of share-
holders held on April 29 last authority was given to increase
the capital from £100,000 to £175,000. This has been done,
and after paying 62,500 shares to the shareholders of the
late St. George's Coal and Estate Company Limited 21,500
shares are held in reserve. The amount of debentures
issued is £83,075, no further allotments having been made
during the period under review. The output from the
company's mines was 449,355 tons, of which 289,467 tons was
from Burnside and 159,888 from St. George's. The directors
regret the death of the late Sir George Sutton, K.C.M.G.
Mr. Robert Lewis Hitchins, a director of the late St. George's
Company, has been elected to fill the vacancy on the board.
After paying £12,225 in dividends, providing £6,230 for
interest on debentures, and writing off £17,037 for deprecia-
tion, an amount of £12,090 is carried forward to next
account. It is the intention of the directors to recommend
a dividend of 5 per cent., amounting to £7,675, be paid out
of this balance. During the period under review the amount
on fixed deposit has been increased by £3,000. The latter
half of 1913 has been more or less marked by industrial
unrest. All the details in connection with the amalgama-
tion of the Dundee and St. George's companies have been
completed.

Elders’ Collieries Limited. — The accounts for 1913
show that the profit for the year amounted to £12,484,
making, with £2,093 brought forward, a total of £14,577.
Debenture interest absorbs £1,670. The directors recom-
mend that £3,238 be transferred to the depreciation reserve
account (making that account £10,000), that £1,216 be

written off freehold wagons account, and that a dividend of
3 per cent., less tax, be declared, leaving £1,955 to be
carried forward.

Employers’ Liability Assurance Corporation Limited.—
The tnirty-second annual •. eneral meeting of this corpora-
tion was held in London on the 11th inst., Lord Claud
Hamilton, M.P., presiding. The chairman said the
premiums for the past year amounted to £1,734,967, against
£1,729,874 in 1912, and the total increase in gross receipts
for the 12 months was £11,772. There was a growth of
£19,000 in the expenses. The losses paid and outstanding
for 1913 amounted to £1,067,948, and for 1912 to £874,415,
being an increase of £193,533. The balance of income over
expenditure was £156,342. He then dealt with the Work-
men's Compensation Acts in this country and in the United
States and Canada, and said that in the colonies generally
the company's business was developing, but competition
was very keen. The report was adopted, and a final divi-
dend of 10s. per share, making 14s. per share for the year,
was agreed to.

Hamilton Brown and Co. Limited.—This private com-
pany has been registered, with a capital of £10,000 in £1
shares, to acquire the business now carried on by J. H.
Brown, under the style of Hamilton Brown and Co., at 3,
St. Peter’s-buildings, York-street, Leeds, and to carry on
the business of iron, tin-plate, and metal merchants, &c.
First and governing director, J. H. Brown. Registered office;
3, St. Peter's-buildings, York-street, Leeds.

Krebs (P. M.) and Co. Limited.—This private company
has been registered, with a capital of £1,000 in £1 shares, to
acquire the business now carried on by P. M. Krebs, at
34, Hart-street, Bloomsbury, W.C., under the style of P. M.
Krebs and Co., and to carry on the business of ironfounders,
mechanical engineers, &c.; also to enter into an agreement
with P. M. Krebs. First directors : P. M. Krebs (chairman)
and F. M. Stieler. Qualification, £100. Registered office,
3, Old Gloucester-street, Bloomsbury, W.C.

Matthews (Thomas) Limited.—This private company
has been registered, with a capital of £15,000 in £1 shares
(5,000 preference), to acquire the business now carried on
at the Imperial Ironworks, Pendleton, Manchester, under
the style of Thomas Matthews, and to carry on the business
of mechanical and hydraulic engineers, makers of pumps
and pumping machinery, smoke-consuming apparatus, and
steam pokers, air compressors, earth and well boring
machinery, well and borehole sinkers, and general engineers,
&c.; also to enter into an agreement with T. Matthews.
First directors: T. Matthews (governing director), Hill
Crest, Upper Colwyn Bay ; E. L. Matthews, Irlams-
o'-th'-Height, Manchester; R. L. Matthews, 62, Park-lane,
Pendleton; and F. A. Matthews, 32, Alresf ord-road,
Pendleton.

Middleburg Steam Coal and Coke Company Limited —A
circular has been issued to the shareholders stating that, in
view of the considerable development in the export coal
trade from the Transvaal, it has become necessary for the
company to guarantee an output beyond the tonnage
allocated to it under the agreement with the Transvaal
Coalowners’ Association. The development of the colliery
is so far ahead of present requirements that the present
output could be doubled at any time. It is anticipated that
it will be necessary to consider an extension of plant in
order that the output can at any time be still further
increased to take advantage of trade demands. The exten-
sion now contemplated will bring the capacity of the
colliery up to 1,500 tons per day. The increased profit-
earning capacity of the colliery should, in the opinion of
the board, justify a moderate increase of capital, which
would leave a larger proportion of the company's profits
available for distribution as dividend than heretofore. The
directors consider that the repayment of the small deben-
ture issue at an early date will add to the financial standing
of the company. They do not propose to issue the balance
of the debentures. The other alternative is to issue the
balance of the ordinary share capital, £15,544, and these
shares are now offered to shareholders at par. The new
shares will rank pari passu with the existing issue for
participation in the profits of subsequent years.

North’s Navigation Collieries (1889) juimited.—At an
extraordinary general meeting of this company last week
the chairman moved that the existing £5 shares should be
divided into five fully paid-up £1 shares. The resolution
was carried unanimously.

Pegler Bros, and Go. (Doncaster) Limited.—This private
company has been registered, with a capital of £48,000 in £1
shares (36,000 preference), to acquire the business of brass,
iron, copper, and aluminium founders and finishers, metal
refiners, engineers, and coppersmiths, &c., now carried on at
Belmont Works, Belmont-avenue, Doncaster, in the West
Riding, Yorkshire, by F. Pegler, of the Northern Rubber
Company, East Retford, Notts., under the style of Pegler
Bros, and Co.; also to enter into an agreement with
F. Pegler and S. F. Pegler. First directors: F. Pegler
(chairman and governing director) and F. E. Pegler, both
of FairView, East Retford ; F. Birchall, Langside, Axholme-
road,Wheatley, near Doncaster; and A. Birchall, 13,Victoria-
road, Balby, near Doncaster.

Premier Valve Limited.—This private company has been
registered, with a capital of £1,500 in £1 shares (750 A shares
and 750 B shares), to carry on the business of mechanical
and general engineers, &c. First directors : H. C. Barber
and R. T. Beard. Registered office, Capel House, 54, New
Broad-street, E.C.

San Salvador Spanish Iron Ore Company Limited.—
The report, which covers the year ended December 31 last,
states that, after making due allowance for depreciation on
machinery, plant and investments, the revenue account
shows a net profit of £11,287, to which must be added
balance brought forward of £2,450, making together
£13,737. The directors recommend a dividend for the
year on the 8 per cent. “ Pier " shares, £960, and of 10 per
cent, for the year on the preference shares, £5,500, placing
to special expenditure fund £5,000 and carrying forward
£2,277. The quantity of mineral produced and shipped
was less than in the preceding year. The falling off in the
production is attributable to the exceedingly wet weather.
The prices obtained were also slightly lower than those
for 1912.

Transvaal Coal Trust Company Limited.—The report
for the year ended December 31, 1913, states that the
directors regret to report that the results obtained from
prospecting work on certain farms in the Breyten district

over which options had been secured were so unsatis-
factory as to warrant the abandonment of the options. The
increase in the amount standing to the debit of the property
account—namely, £2,025—was occasioned by expenses
incurred during the year in the prospecting operations
above referred to, and expenditure on certain other proper-
ties in the Middleburg district, the results from which were
also unsatisfactory. The net amount accruing to the com-
pany during 1913, after allowing for assessment rate, road
construction, deviation of power line, agency fees, &c.,
amounted to £5,850. The asset has been written down to
£1 and the balance transferred to profit and loss. An amount
of £16,112 was owing to the company as at December 31
last, being the unpaid instalments on stands sold
since the formation of the township. The profit from the
sale of coal amounted to £26,975, less a sum of £719 in
respect of Government profit tax. The shortfall of £12,123,
as compared with 1912, was mainly due to a short of water
at Oogies Colliery during the last three months of the year.
The output from the collieries, which amounted to 447,399
tons, was dealt with through the Transvaal Coal Owners
Association (1910) Limited. The amount at debit of the
De Rietfontein Colliery—namely, £42,488—has been reduced
by the transfer of £37,806 to premium on shares account,
the balance, £4,682, being represented by certain assets not
yet disposed of. Capital expenditure for the year amounts
to £16,279. The directors recommend the following
interim dividends for the year 1913 :—(No. 27) 10 per cent.
(2s. per share), (No. 28) 71 per cent. (Is. 6d. per share).

United Collieries Limited.—The report for the year 1913
states that the profits amount to £100,503, which has. been
carried to debenture interest and redemption appropriation
account. Out of this the interest on the first debentures
A and B has been met, £24,925 has been carried to sinking
fund for redemption of first debentures and £20,000
retained to meet capital expenditure and treated in
reduction of expenditure on property held by the company,
leaving £37,554 available for further payments in respect
of interest on the first debentures and for sinking fund.
Under the provisions of the agreements with the debenture
holders of July 1904 and April 1911, there have been
redeemed during the year by tender first debentures A to the
extent of £25,300 and first debentures B to the extent of
£9,500. The output of the collieries was 2,341 336 tons.

Vickers Limited.—The directors have decided to place
£300,000 to general reserve and to recommend a final
dividend of Is. 6d. per share (free of income-tax) on the
ordinary shares, making 2s. 6d. per share, or 121 per cent,
for the year. The amount carried forward is £222,810.
Owing to the continued rapid and profitable expansion of
the company's business the directors will propose to the
shareholders an increase in the ordinary share capital of
£1,110,000, or of one share in four of the present capital.
These shares will be offered to the shareholders at 28s. per
share.

Vulcan Foundry Company Limited.—The directors have
declared an interim dividend of 2| per cent, (actual) upon
the ordinary shares. They also convene an extraordinary
general meeting for to-day (Friday), when resolutions will
be proposed to increase the share capital to £600,000 by
the creation of 100,000 ordinary shares of £1 each, and
that the sum of £27,861, being part of the undivided profits
of the company, be distributed as a bonus among the
holders of the ordinary shares in proportion to the ordinary
shares held by them respectively, by the issue of 27,861 of
the unissued ordinary shares credited as fully paid; the
bonus proportion in question is one new ordinary share for
each existing ten shares.

Walker (C. and W.) Limited.—The directors’ report for
the year ended January 31 last shows that the profit, after
charging directors' fees and depreciation on buildings and
plant and strengthening contingent reserve, amounts to
the sum of £15,606 15s. After adding the balance brought
forward from last year there is a sum of £24,348 16s. 6d.,
which the directors recommend be dealt with as follows :—
To dividend already paid for six months ended July 31,
1913, viz., on preference shares at the rate of 5-2 per cent,
per annum £1,100, on ordinary shares at the rate of 10 per
cent, per annum £2,000—£3,100; to payment of a dividend
at the rate of 5 per cent, per annum on the preference
shares for the six months ended January 31, 1914, £1,100 ;
to payment of a dividend at the rate of 10 per cent, per
annum, free of income tax, on the ordinary shares for the
six months ended January 31, 1914, £2 000; to payment of
a bonus of Is. per share on the ordinary shares, free of
income tax, £2,000; to be carried to reserve fund, making
it £33,000, £5,000 ; to carry forward to next year
£11,148 16s. 6d.—£24,348 16s. 6d. The directors contem-
plate further reorganisation and extension of the plant and
machinery, and to meet the necessary outlay propose a
further issue of capital.

Whitham (Henry) and Son Limited.—This private
company has been registered, with a capital of £7,000 in £1
shares, to carry on the business of steel and file manufac-
turers, ironmasters, steelmasters and converters, &c. First
directors, S. A. Whitham and C. H. Whitham. Registered
office, 74, Arundel-street, Sheffield.

Wilkinson (G. G.) and Co. Limited.—This private company
has been registered, with a capital of £2,500 in £1 shares, to
carry on the business of colliery owners, engineers, iron-
masters, steelmakers, and converters, coke manufacturers,
miners, smelters, ironfounders, and dealers in iron, coal and
other metals and minerals, etc.; also to enter into an agree-
ment with G. G. Wilkinson. First directors, G. G. Wilkin-
son, St. James'-road, Dudley, and S. Cook, Greenfield-avenue,
Stourbridge.

Partnerships Dissolved.—The London Gazette announces
the dissolution of the following partnerships:—H. Heaps
and W. C. Heaps, engineers, millwrights and machinists
Ann-street, Kendal, under the style of Wright, Heaps and
Westwood ; H. C. Crowe, T. Banyard and J. Ward,
engineers, Buckingham-road, Dalston, N., under the style
of Crowban Engineering Company; A. C. Harris and S.
Keats, engineers and machinists, Portland-road, Leicester,
under the style of the Gripper Manufacturing Company ;
G. F. Beare and H. W. Hill, instrument makers, manufac-
turers and engineers, Harberson-road, Ba]ham, under the
style of the Alpha Manufacturing Company ; S. Siddown
and A. E. Maddock, motor engineers, Rutland - street,
Ilkeston, under the style of Siddown and Maddock.