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I

April 17, 1914.

THE COLLIERY GUARDIAN.

861

COAL, IRON AND ENGINEERING COMPANIES.

NAnglo-French (Transvaal) Navigation Coal Company
Limited.—For the year 1913 the sale of 302,172 tons of
marketable coal shows an increase of 39,500 tons, as com-
pared with 1912. The output is still entirely drawn from
the lower seam, and the quality of the product is good. The
net profit on coal-winning was £23,498, an increase of
£8,809, due to increased tonnage and more economical
handling. A further £3,000 has been allocated forextension
of plant, depreciation, &c, and three interim dividends—
Nos. 5, 6 and 7, of 7|, 5 and 3-| per cent, respectively—have
been declared payable to holders of preference shares.
After making allowance for .£1,553 brought forward, there
remained £2,551 to be carried forward. The contingent
liability in respect of the cumulative preference dividend
stood at the end of the year at £19,930, or £11,100 less
than the previous year's figure.

Anglo-Russian Coal Corporation Limited.—This private
company has been registered, with a capital of £26,000 in £1
shares, to acquire coal and other mines, and to carry on the
business of ironmasters, steelmakers, colliery proprietors,
miners, smelters, ironfounders, mechanical and electrical
engineers, &c. Signatories, A. J. Barry and E. R. Ketchell.
Registered office, 2, Queen Anne's Gate, S.W.

Anglo-Spanish Coaling Company Limited.—The report
for the year 1913 shows a net income of £5,841. After
providing for the preference dividend at the rate of 6 per
cent, per annum, a dividend on the ordinary shares at the
rate of 5 per cent, is proposed, free of income-tax, writing
£500 off formation expenses, leaving £1,978 to carry forward

Arauco Company Limited.—The report for the year 1913
states that the amcunt at the credit of revenue account for
the year, after charging the service of the debenture stocks
and inccme debentures, is £75,698, which added to the
amount brought forward, £21,718, making £97,415, and
deducting an interim dividend paid on October 15 of 4 per
cent., £19,113, makes an amount at credit of revenue
account of £78,303. The directors recommend a distribu-
tion of 6 per cent., making 10 per cent, for the year (the
total dividend paid being in respect to the railway earnings,
4 per cent., and the colliery earnings, 6 per cent., equal to
10 per cent ), and placing amounts to the following
accounts: Addition to the 6 per cent, second debenture
stock redemption fund to enable a distribution of 10 per
cent, of the outstanding debenture stock, £5,587, to reserve
fund account £20,000, leaving to be carried forward £24,046.
The diminution in the output of the company's own mines,
as well as of other collieries, is the cause of the decrease in
the railway earnings. The net profits of the mines were
£67,251, an increase of £4,788. The output of coal has been
182,230 tons, and the sales 183,082 tons, as compared with
output 208,733 tons and sales 220,881 tons in 1912.

Argentine Iron and Steel Company Limited.—The
directors have issued a further circular in explanation of
the unfavourable results of the passing trading. It is stated
that these results are due to the fall in the selling prices in
Argentina of girders and iron goods, in consequence of the
reduction of prices in Europe; also to an increase in pay-
ments for interest, in the reserves for bad debts owing to the
financial crisis in Argentina, and in other expenses. Besides
this, the heavy drcp in freights, it is stated, was an
important factor. The falling off in the sales occurred in
particular in January and February last. The returns
received from Buenos Ayres showed that during the first
eight months, from March 1 to October 31, 1913, the sales
amounted to £686,697, compared with £556,154 for the
corresponding months of the previous year—an increase of
£130,543. On the other hand, for the four months from
November 1, 1913, to February 28, 1914, they amounted
only to £265,908—a decrease of £94,025.

Argentine Metals Limited.—This private company has
been registered, with a capital of £20,000 in £1 shares
(5,000 deferred), to acquire wolfram or tin deposits, and
mines, &o., and to carry on the business cf mineral and metal
merchants, wolfram and tin smelters, engineers and iron-
founders, &c.; also to enter into an agreement with Moxon,
Salt and Co. Managers: Moxon, Salt and Co. (partners,
E. Moxon, E. H. Moxon, and R. Moxon). Registered office,
101, Leadenhall-street, E.C.

Babcock and Wilcox Limited.—The directors recommend
a final dividend of 9 per cent, on the ordinary shares,
making 16 per cent, for the past year. At the end of 1911
the ordinary share capital was doubled by the capitalisation
of the reserve fund. The dividends for the past year are
therefore equal to 32 per cent, on the original ordinary
shares.

Brown (John) and Co. Limited.—A circular issued to the
shareholders by the secretary, on behalf of the directors,
states that for some time past the directors of the company
have felt that the objects of the company, as defined in its
memorandum of association, which was drafted as long ago
as 1864, was unduly restricted. The directors are accord-
ingly of opinion that the time has come for applying to the
Court for such an alteration of the memorandum with
respect to the objects of the company as is authorised by
section 9 of the Companies (Consolidation) Act, 1908, and is
calculated to cover the requirements of a modern and
up-to-date undertaking, as has been done in the case of
many other limited companies of long standing. The
accompanying resolution (a) proposes to sanction this
alteration, and authorises the directors to apply to the
Court to have the same confirmed. At the same time the
directors feel that it will be to the advantage of the company
to substitute for the old articles of association of the com-
pany new articles which, in their form of expression, are
more in accordance with modern conditions, and the accom-
panying resolution (b) refers to these proposed new
articles.

Brush Electrical Engineering Company Limited—For
1913, after providing expenses and interest on debenture
stock, net profit is £20,061. The directors apply £12,352 in
writing down property account to provide for depreciation
in respect of last two years and balance of £7,709 in
reduction of the debit of profit and loss. The scheme for
reduction of capital submitted in 1912 has been in abeyance,
pending re-establishment of an equilibrium of profit and
loss account. It will now be proceeded with. The directors
are of opinion that profits may be materially improved if
the company is enabled properly to exploit the Lj angstrom
steam turbine, for which it holds manufacturing rights.
The first turbine at the Willesden power-house of the North
Metropolitan Electric Power Supply Company duly com-

pleted its trial period, and has been taken over as a
permanent unit. To develop the business to best advan-
tage will involve some capital expenditure.

Canadian Explosives Company Limited.—Dividend of
1| per cent, declared on the 7 per cent, cumulative preferred
shares for quarter to March 31.

Carbonoid Limited.—This company has been registered,
with a capital of £8,000 in £1 shares, to acquire
patents relating to improvements in fuel economisers,
coal-saving secret process, &c., and the business
now carried on by Midland and Northern Industries
Limited, and to carry on the business of manu-
facturers of, and dealers in, fuel economisers, coal merchants,
and metallurgists, &c.; also to enter into an agreement with
the Midland and Northern Industries Limited. Minimum
cash subscription, £50. Signatories include :—H. S.
Starkey, J. Berrill, H. Thomas, D. Angus, J. Pitcairn, and

D.	Vindin. Secretary and registered office, J. D. Kennedy,
9, Carthusian-street, E.C.

Cory (William) and Son Limited.—The directors
announce that the warrants for the half-yearly interest to
March 31, 1914, on the 4 per cent, first mortgage debenture
stock and 4| per cent, debentures have been posted.

Derwent Foundry (Continental) Limited.—This private
company has been registered, with a capital of £10,000 in £1
shares, to acquire the business of the Derwent Foundry
Company Limited in France and elsewhere, and to carry on
the business of iron and brass founders, metal workers,
and engineers, &c.; also to enter into an agreement with
the Derwent Foundry Company Limited. First directors,

E.	W. Jobson, J. E. V. Jobson, and A. N. Symington.
Registered office, Exeter-place, Derby.

Earl (H. H.) and Son Limited—This private company
has been registered, with a capital of £15,000 in £1 shares,
to acquire the business of iron and steel merchants now
carried on by W. Earl, at 44, Corporation-street, Sheffield,
under the style of H. H. Earl and Son, and to carry on the
business of colliery proprietors, coke manufacturers, and
engineers, &c.; also to enter into an agreement with W.
Earl. First director, W. Earl, Clifton, Handsworth,
Sheffield.

Furness Withy, and Co. Limited.—The directors have
declared the usual quarterly dividend at the rate of 10 per
cent, per annum (6d. per share), free of income-tax, on the
ordinary shares.

Jerningham Limited.—This private company has been
registered, with a capital of £10,500 (10,000 preference
shares of £1 each, and 10,000 ordinary shares of Is. each),
to carry on the business of ironfounders and engineers, &c.;
also to enter into an agreement with T. F. Manning and
L. G. Meller. Signatories : T. F. Manning and L. G.
Meller, residing at 22, Devereux-court, W.C., and Finsbury-
court, Finsbury-pavement, E.C., respectively. First
directors to be appointed by the signatories. Qualifica-
tion, 100 shares. Remuneration, £50 each per annum
(chairman, £75). Secretary, H. C. Flicks, 55, Carlton
House, Regent-street, S.W.

Lancaster and Co. (Bow) Limited.—This private com-
pany has been registered, with a capital of £25,000 in £1
shares, to acquire the business now carried on at the Bow
Tank Works, High-street, and elsewhere in Bromley-by-
Bow, E.. by S. T. Lancaster, under the style of “ Lancaster
and Coand to carry on the business of ironfounders,
mechanical engineers, brass founders, &c.; also to enter
into an agreement with S. T. Lancaster and R. C. Baker.
First directors: S. T. Lancaster, Hesketh, Brighton-road,
Worthing; H. S. Lancaster, Creigh, Station-road, Loughton,
Essex ; W. J. Lancaster, 27, Melbourne-road, Ilford, Essex;
and R. C. Baker, 111, Fairlop-road, Leytonstone, Essex.

Newton, Chambers and Co. Limited.—The directors, in
their annual repoit for the year ended December 31, state
that during the year substantial progress had been made
in the equipment of the ironworks, collieries, and by-product
plants, in respect of which considerable outlay is still
pending. After allowing for depreciations, the profit and
loss account shows a profit for the year of £89,522 16s. 5d.,
making, with the balance of £17,769 14s. brought forward,
a total of £107,292 10s. 5d. Out of this there has been paid
to the holders of debenture bonds and mortgagees for
interest £3,007 4s. 5d., leaving an available balance of
£104,285 6s., which the directors recommend to be applied
as follows: — Transfer to reserve account, £50,000; a
dividend of 10 per cent, on 7,348 6 per cent, preference
shares of £20 each, £14,696 ; a dividend of 10 per cent, on
7,975 ordinary shares of £20 each, £15,950; cany forward
£23,639 6s.

North End Colliery Company Limited.—This private
company has been registered, with a capital of £10,000 in
£1 shares, to acquire coal, iron and other mines, and to
carry on the business of coal masters and owners, colliery
proprietors, miners, coke manufacturers, smelters, engineers,
ironfounders, and patent fuel manufacturers, &c. First
directors : T. Stephens, W. J. Stephens, and J. Beaumand
and S. Beaumand, both of Pontrhydyfen, Glam.

North’s Navigation Colliery Company Limited. — An
extraordinary general meeting of the shareholders, convened
for the purpose of confirming resolutions passed at the
annual meeting dividing the £5 shares into five shares of
£1 each, has confirmed the resolutions.

Ocean Coal and Wilsons Limited.—In their report for
the year ended December 31, 1913, the directors state
that the profits available for distribution amount to
£205,211 12s. 7d., and the directors recommend a dividend
of 10 per cent, on the ordinary shares, free of income tax,
carrying forward £7,734 2s. 7d. This dividend makes, with
the interim dividend of 6 per cent., a total of 16 per cent,
for the year. An extraordinary general meeting was held
last week to consider proposals for alterations in the articles
of association ; to authorise the company to capitalise any
part of the undivided profits standing to the credit of the
reserve fund, and distribute as a bonus among the share-
holders of the ordinary shares as paid-up shares, debentures,
or debenture stock of the company, or any other company,
or in other ways. This was agreed to.

Penmain Colliery Limited.—This private company has
been registered, with a capital of £5,000 in £1 shares, to
acquire mines, &c.,at Woodfield, Mynyddisllwyn (Mon.) and
elsewhere, and to carry on the business of iron, iron ore and
metallic ore mine proprietors, colliery proprietors, coke
manufacturers, &c.; also to enter into an agreement with
W. Baker. First directors (for the time being) are W

Baker and E. F.?*Gange. Registered office, 2, Bristol
Chambers, 6, Nicholas-street, Bristol.

Redhill Colliery Company Limited. — This private
company has been registered, with a capital of £1,000 in £1
shares, to acquire coalmines or minerals at Shelley, Yorks,
or elsewhere, and to carry on the business of colliery
owners and proprietors, miners, coal merchants, coke manu-
facturers and smelters, &c.; also to enter into an agreement
with W. Addy, P. R. Jackson, F. Child and C. E. Field.
First directors, P. R., Jackson, Woodlands, Scissett; F.
Child, The Park, Clayton West; and C. E. Field, Pilling
House, Skelmanthorpe.

Roburite and Ammonal Limited.—In presenting the
balance-sheet and accounts for the 12 months ending
December 31, 1913, the directors have to report that, after
providing for all necessary charges, the net profit for the
year is £7,619 17s. lid., which, with £1,521 5s. 7d. brought
forward from 1912, gives a total of £9,141 3s. 6d. for
appropriation. Of this amount, £761 19s. 9d., being 10 per
cent, on the net profits for the year, has been set aside for
the reserve fund, making it £10,317 2s. 8d., and leaving a
balance of £8,379 3s. 9d. An interim dividend at the rate
of 10 per cent, per annum for the six months ending June 30
was paid on the £5 preference shares in September last, and
the, directors now recommend the payment of a further and
final dividend on the present preference capital, consisting
of 51,295 shares of £1 each, at the same rate. Out of the
balance of £3,344 13s. 9d. then available for distribution,
they propose to pay a dividend at the rate of 2| per cent,
per annum on the ordinary shares, of which 20,000 shares,
issued as part consideration for the assets of the Ammonal
Explosives (1908) Limited, will rank for dividend as from
July 1, 1913, only.

St. Julian’s Coal and Haulage Company Limited.—This
private company has been registered, with a capital of
£1,000 in £1 shares (300 preference), to carry on the
business of coal contractors, &c.; also to enter into an
agreement with R. Jenkins and G. Scott. First directors:
R. Jenkins, G. Scott, senr., and G. Scott, junr. Registered
offices, Old St. Julian's Farm House, Old St. Julian's,
Newport, Mon.

Sandwell Park Colliery Company Limited. — This
company has been registered, with a capital of £220,000
(50,000 6 per cent, cumulative preference shares of £1 each,
90,000 cumulative preferred ordinary shares of £1 each, and
16,000 ordinary shares of £5 each), to acquire the business
of the Sandwell Park Colliery Company Limited (incor-
porated in 1870), pursuant to a scheme of arrangement
sanctioned by the High Court of Justice, Chancery Division,
on February 17, 1914, and to carry on the business of
colliery and mine owners, coalmasters, and dealers in all
metals and minerals, &c.; also to enter into an agreement
with the Sandwell Park Colliery Company Limited and
H. W. Hughes (its liquidator). Minimum cash subscrip-
tion, £1,000. First directors: J. Hughes, Dudley, Worcester-
shire ; H. R. Padmore, Wharfedale, Church-road, Edgbaston;
F. H. Sabin, Priory Dene, Edgbaston, Worcestershire;
R. D. Lewis, Bilston, Staffs.; and W. T. Field, Birmingham-
road, West Bromwich, Staffs. Remuneration, £1,000 each
per annum, and such further sum as the company may from
time to time determine, out of which £50 per annum shall
be paid to the chairman. Secretary, B. Karleese.

Scottish Iron and Steel Company Limited.—The profits
amount to £16,122. Interest, &c., absorbs £2,622; deben-
ture stock interest, £14,600; debenture stock sinking fund,
£7,900, leaving a balance at debit of profit and loss account
of £9,000. The directors propose to transfer £10,000 from
sinking fund account to depreciation account.

Whitakers (Engineers) Limited.—This private company
has been registered, with a capital of £5 in Is. shares, to
acquire the business of engineers, now carried on by J. S.
Whitaker, at Horsforth, under the style of Whitaker and
Co. ; also to enter into an agreement with J. S. Whitaker.
First directors : F. S. Jackson, Lynndene, Ilkley, J. S.
Whitaker, Oxford House, Horsforth, near Leeds, and L. N.
Whitaker.

Wright’s Enterprise Limited.—This private company has
been registered, with a capital of £5,000 in £1 shares (3,000
6 per cent, cumulative preference), to carry on the business
of electricians and mechanical engineers, &c. First directors:
A. T. Wright and C. M. Thomas. Secretary and registered
office, W. H. Davies, 5, Castle-street, Liverpool.

Yellow River Iron Ore Syndicate Limited.—This private
company has been registered, with a capital of £6,250 in £5
shares, to acquire mines and mining rights, &c., in Russia,
or elsewhere, and to carry on the business of ironmasters
and founders, iron, steel, and other metal merchants, and
brokers, smelters, engineers, and colliery proprietors, &c.
Secretary, A. H. Hale, 33, Old Broad-street, E.C.

Shipment of Bunker Coals.—The amount of coal, &c.,
shipped for the use of steamers engaged in the foreign trade
for the past month was 1,689,304 tons, as compared with
1,654,142 tons in March 1913 and 984,324 tons in March
1912. The aggregate so shipped during the first quarter of
the year was 5,035,448 tons, as against 4,951,231 tons and
4,051,302 tons in the corresponding periods of 1913 and 1912
respectively.

Gas-detecting Apparatus.—Mr. A. Williams, anelectrical
chemist, attended the conference of the Miners' Federation
in London last week, and gave an exhibition of a new
patent gas-testing apparatus invented by him. He pointed
out that with this instrument the presence of explosive gas
underground could be detected and registered down even
to one-tenth of 1 per cent., and from that point upwards it
registered the percentage of gas present in the atmosphere.
In addition, it also rang a bell, and it was proposed that
this instrument should be attached to electric safety lamps
and also be fitted up in various parts of the mines in order
to indicate the presence of gas in any of the airways. Mr.
Williams showed several experiments, and, in every case,
the instrument at once set a bell in motion immediately it
was placed in contact with the gas. The gas with which
he experimented was mine gas brought from a colliery in
South Wales. The conference passed a hearty vote of
thanks to Mr. Williams.