1206

THE COLLIERY GUARDIAN,

May 29, 1914.

Difficulties Attendant upon the Working of Electrical
Apparatus in Mines. S. F. Walker. “ El. Rev.,”
May 8, p. 800; May 15, p. 841.

Electric Switches for Use in Gaseous Mines. H. H.
Clark and R. W. Crocker. “ U.S. Bur. Mines, Bull.
68 ”; 1 fig. and 6 plates.

Hydro-Electric Riant of Canadian Collieries (Dunsmuir)
Limited. “Min. Eng. El. Rec.” (Vancouver),
March, p. 170; 1 fig.

Interpole Motors for Mine Locomotives. A. R. Ander-
son. ” Coal Age,” May 9, p. 764; 2 fig. (Conclu-
sion is that no appreciable saving in cost is effected
by the use of interpoles, and that overload capacity
is not needed on properly designed locomotives.)

Electrical Accidents in Belgian Mines, etc. (Les Acci-
dents Causes par 1’Electricite dans les Mines, etc.). J.
Libert. “Ann. Mines Belg.,” vol. 19, No. 2, pp.
307-348.

XXVIII.—Surface Transport.

Belt Coal Conveyors. “ Railway Gaz.,” May 8, p. 640;

3 fig. (Installation at Middlesbrough.)

Coal Shipping Ports and their Equipment—Hartlepool
and Middlesbrough, “ Syren and Shipping,’’April 22, p.
185; 6 fig. Hull and Goole, May 6, p. 289; 8 fig.
Immingham and Grimsby, May 20, p. 401; 5 fig.

New Coaling Station at Tyne Dock. “ Colliery
Guard.,” May 8, p. 1005; 3 fig.

Largest Coal Handling Plant in the World. ” Iron
Age,” May 7, p. 1141; 3 fig. (New type of equipment
at Norfolk, Va.; inclined tracks are replaced by
elevators hoisting 115-ton cars; plant has a theoretical
capacity of 30,000,000 tons per year, and will actu-
ally handle half that amount.)

Development of Coal Traffic in the Ruhr District (Die
Entwicklung des Kohlenversandes im Ruhrbezirk).
“ Gliickauf,” vol. 50, No. 21, pp. 841-844. (Statistics
from the Report of the Association for Protection of
Mining Interests in the Dortmund District.)

Airways (Wetterwege). G. Klein. “ Braunkhole,”
vol. 13, No. 6, pp. 81-84.

XXX.—Mining Laws, Royalties.

Comparison of Mining Conditions To-day with those of
1872, in their Relation to Federal Mining Land Laws.
R. W. Raymond. “ Bull. Am. Inst. Min. Engin.,”
April, p. 577.

Why the Mining Laws Should be Revised.	II. V.

Winchell. ” Bull. Am. Inst. Min. Engin.,” April,
p. 645.

The Mining Law Distinction between Coal and Brown
Coal (Die bergrechtliche Unterscheidung Zwischen
Stein- und Braunkhole). F. Friendesburg. ”Gliickauf,”
vol. 50, No. 19, pp. 744-749.

COAL, IRON AND ENGINEERING COMPANIES.
REPORTS AND DIVIDENDS.

Anderston Foundry Company Limited.—The profit for the
year to March 31, after providing for depreciation, etc., was
£40,984, making, with the amount brought forward £44,610.
A final dividend of 15s. 6d. per share is recommended,
making 20s. for share for the year, less tax. It is also
recommended that £10,000 which was withdrawn from the
reserve fund four years ago should be restored, leaving
£6,360.

Brunner, Mond and Company Limited.—The report for the
year ended March 31 last shows a balance to the credit of
profit and loss account of £769,343, which, with £120,178
brought forward, makes a total of £889,522. The directors
propose to deal with this as follows :—Dividend on the pre-
ference capital at 7 per cent, per annum, subject to deduc-
tion of income tax, and of the interim dividend paid on
December 12, 1913, £105,000; divided on the ordinary
capital, making 27^- per cent, for the year, subject to
deduction of income tax and of the amount paid on December
12, 1913, £671,102; amount to be written off patents
account, £2,500; balance to be carried forward, £110,920.

Canada Iron Corporation.—The committee appointed at
the meeting of the first and second bondholders of the Canada
Iron Corporation in March last, to co-operate with the board
in preparation of a scheme of capital reconstruction, have
now reported, and a meeting of the first mortgage bond-
holders has been convened at Montreal for July 2 next. A
resolution will be submitted, approving the scheme. The
new company which it is proposed to form will create
£200,000 (or SI,000,000) of 6 per cent. “A” debenture stock,
of which not less than £120,000 and not more than £140,000
face value will be subscribed at a price of 95 per cent, to
provide the necessary cash working capital. The remainder
will be held in reserve. There will also be created £800,000
of 6 per cent. “ B ” debenture stock, and the existing first
bondholders will be alloted an amount of this issue equivalent
to par value of their existing bonds. This will absorb
approximately £600,000 of the stock, the remainder being
held in reserve to be issued only when the “A” debenture
stock has been redeemed, or for the purpose of redeeming
same. Non-cumulative 6 per cent, preference shares and
common shares will also be created, the amounts to be deter-
mined after negotiation with the second bondholders and
other creditors.

Dinriington Main Coal Company Limited.—The directors
have decided to recommend the payment of a final dividend
of 2s. 6d. per share, less tax, on the ordinary shares on
June 29, making the dividend for the whole year 17J.

Dorman, Long and Company Limited.—An offer has been
made at 96 per cent, of £500,000 5 per cent, sinking fund
mortgage debentures, in denominations of £20, £100, and
£200 in registered debentures or in debentures to bearer, due
July 1, 1939. On or before Julv 1, 1915, and annually there-
after £10,477, plus an amount equal to the annual interest
on debentures redeemed, will be applied as a sinking fund
for the redemption of the debentures, either by purchase
below par plus accrued interest, or by drawings at par plus
accrued interest. The mortgage debentures are issued to
retire £180,000 6 per cent, second mortgage debenture stock
now outstanding, to recoup the company for expenditures on
capital account, and to provide additional working capital.
They will be secured by a first mortgage on freehold and
leasehold property in London and Middlesbrough, and on
practically the entire share capital of the North-Eastern
Steel Company Limited ; they will be further secured by a

^mortgage on the remainder of the company’s property sub-
ject only to £400,000 4 per cent, first mortgage perpetual
debenture stock.

Ebbw Yale Steel, Iron and Coal Company Limited.—Divi-
dend of 10 per cent, on ordinary shares for the year ended
March last.

Evans (Richard) and Company Limited.—The profits for
the past year, including £5,402 brought forward, amounted
to £89,916. £15,717 has been written off for depreciation,
and debenture interest absorbs £11,300. A final dividend of
7 per cent, is proposed, making 10 per cent, for the twelve
months, and leaving £6,613 to carry forward.

Fox (Samuel) and Company Limited.—An extraordinary
general meeting has been convened to consider a resolution
that each of the existing £20 shares in the company’s capital
be divided into 20 fully paid up £1 shares, and that the
300,000 shares resulting from such sub-division be re-
numbered consecutively one to 300,000. The meeting will
further consider a resolution that the capital of the company
be increased to £450,000 by the creation of 150,000 new
shares of £1 each.

Glencoe (Natal) Collieries Limited.—The annual report
for the year ended December 31 last states that the profit
amounted to £20,503 from coal account. The net profit on
the year’s business, after deduction of depreciation and
general charges, appears as £13,589, which, with last year’s
carry forward, totals £31,022. This is the credit of appro-
priation account, and the debits to the account are £12,500,
being the amount of the dividends and £1,300 allowance for
possible loss on investments, leaving £17,222. Two divi-
dends, each of 2| per cent., and amounting to £12,000, were
declared during the year.

King’s Norton Metal Company Limited.—The accounts
for the year ended March 31 show a profit of £37,548 (against
£43,956), to which has to be added the balance brought for-
ward, making £40,113, of which amount the directors have
appropriated £15,000 to depreciation and £5,000 to reserve
account. They recommend a dividend at the rate of 7 per
cent, per annum on the ordinary share capital, being the
same as a year ago, leaving £2,613 to be carried forward.

Kyshtim Corporation Limited. — The directors announce
that having recently received advice from Russia, they anti-
cipate that there will be available for distribution as a final
dividend on the ordinary shares in respect of the year 1913
the sum of 3s. per share, free of income tax. This, includ-
ing the interim dividend already paid, will make a total
distribution for the year 1913 of 5s. per share.

Metropolitan Carriage, Wagon and Finance Company
Limited.—The net profits for the year ended March 31 were
£355,739, and £103,885 was brought forward. A final divi-
dend at the rate of 12J per cent, per annum is proposed on
the ordinary shares, making 10 per cent, for the 12 months,
and also a bonus of 5 per cent., adding to the reserve fund
£124,904, and carrying forward £118,519.

Newport-Abercarn Black Vein Steam Coal Company
Limited.—The directors announce a final dividend of 13
per cent, per annum on the ordinary shares, making 10 per
cent, for the year.

Pease and Partners Limited.—The report of the directors
states that the working profit for the year is £385,974
15s. 6d., to which is added the undivided profit on April 30,
1913, £47,870 18s. 9d., making a total of £433,845 14s. 3d.
Of this sum there has been applied jn providing for a year’s
debenture interest £22,250, depreciation of leaseholds and
grant £48,571 2s. 4d., in paying interim dividends of 8s. per
share on the ordinary shares £40,000, and on the deferred
shares £12,000. The directors recommend that £23,036
Is. 4d. be applied in meeting the special expenditure appear-
ing at the foot of the balance-sheet, £75,000 be added to
general reserve, £40,000 be added to the reserve for renewals
and improvements, £80,000 in paying on June 17 next divi-
dends of 16s. per share on the ordinary shares, and £24,000
in dividends of 16s. on the deferred shares, making with the
interim dividends 12 per cent, for the year on both classes of
shares. This means carrying forward an undivided profit
of £66,988 10s. 7d.

Pumpherston Oil Company Limited. — The report states
that after providing for the maintenance of the works and
mines during the year, and including the sum of £13,726
brought forward from last year, there is a balance at the
credit of profit and loss account of £153,751, from which
falls to be deducted :—Interest on loans £2,221, leaving
£151,529, which the directors recommend should be disposed
of as follows :—In writing off for depreciation, £15,000;
amount expended on improved plant during the year,
£10,707; improved plant account for work authorised and in
progress, £30,000; in payment of a dividend at the rate of
6 per cent, on the first preference shares of the company,
£6,000; in payment of a dividend at the rate of 6 per cent,
on the second" preference shares of the company, £3,000; in
payment of a dividend at the rate of 25 per cent, on the ordi-
nary shares of the company, £71,375; leaving a balance of
£15,447 to be carried forward to the current year. The
capital expenditure for the year amounts to £25,873.

Rhymney Iron Company Limited.—For the year to March
28 last trading profits were £131,902, and £13,336 was
brought forward. Deducting £33,474 for interest and sink-
ing funds on the two debenture loans and £25,000 interim
dividend paid December, the balance available is £86,764.
The cost of new work during the year was £39,804, made up
of expenditure in connection with the Mardy pit £19,155, on
electric power installation £17,462, and on new offices at
Rhymney £3,187. The directors propose that £23,188 of
this be written off out of the profits. This will leave £63,576
to be dealt with, and the directors recommend adding £15,000
to reserve fund, pay final dividend of 2s. 6d. per share, less
tax, £25,000; £23,576 forward. The output of coal was
1,304,297 tons, against 1,240,698 tons. The quantity of coke
made was 46,755 tons, against 49,085 tons. The scheme for
reorganisation of the capital was duly passed and confirmed
by an order of the court and put into operation as from the
commencement of the company’s present year.

Westinghouse Electric and Manufacturing Company
Limited.—The report for the year ended March 31 shows
that the gross earnings amounted to $43,733,646, an increase
of $3,756,081, and the net manufacturing profits were
$4,717,222, an increase of $145,950. The total income was
$5,998,078, an increase of $430,242, and the net income
applicable to dividends and other purposes was $4,058,809,
an increase of $894,777. The surplus at $7,659,130 shows
an increase of $310,608. The earnings on the common
shares were equal to 10’73 per cent., as against 8’2 per cent,
in 1913. The company had retired $556,000 of convertible
bonds, making the total retired through the sinking fund
$3,754,000 of the $25,000,000 authorised.

NEW COMPANIES.

Belcher and Gibbons Limited.—Private company. Regis-
tered office, South-road, Southall, Middlesex. Registered
May 20. To acquire and carry on the business now carried
on by C. E. Anstice Belcher and F. Gibbons at Southall,
Ealing, Hayes, and Uxbridge as coal merchants, manufac-
turers of and dealers in coke and fuel of every description.
Nominal capital, £10,000 in £1 ordinary shares. Permanent
directors :—C. E. A. Belcher, South-road, Ealing, coal mer-
chant; F. Gibbons, 90, Shakespeare-road, Hanwell, coal
merchant; A. G. Burr, The Barn, Aylesbury-road, Chalfont
St. Peters, Bucks, coal merchant. Qualification of directors,
£1,000.

The Burton Constructional Engineering Company Limited.
—Private company. Registered office, Wetmore-lane, Bur-
ton-on-Trent, Notts. Registered May 19. To carry on
business of mechanical and electrical engineers, machinists,
manufacturers of constructional steel work, etc. Nominal
capital, £10,000 in £1 shares. Directors :—George Smith
Marple, 39, Rupert-road, Nether Edge, iron and steel mer-
chant; John Gillott, 31, Upper Albert-road, Nether Edge;
iron and steel merchant; Wilifred Marsh Gillott, 12, Mon-
trose-road, Nether Edge, iron and steel merchant; Joseph
Percival Gillott, Warminster-road, Norton, iron and steel
merchant; Rupert Alan Hatfield, Burton-on-Trent. Quali-
fication of directors, one share.

Cleeves’ Western Valleys Anthracite Collieries Limited.—
Private company. Registered office, York Chambers, York-
street, Swansea. Registered May 20. To enter into an
agreement between Frederick Cleeves, John Frederick
Cleeves, George Samuel Harris, and Charles Edward Cleeves
of the one part, and the company of the other part, and also
between New Cross Hands Collieries Limited of the one
part, and the company of the other part; and to carry on
business of colliery agents, wholesale and retail coal mer-
chants, etc. Nominal capital, £250,000 in £1 shares.
Directors :—Frederick Cleeves, 120, Fenchurch-street, E.C.,
colliery proprietor and coal exporter ; John Frederick Cleeves,
120, Fenchurch-street, E.C., colliery proprietor and coal
exporter; George Samuel Harris, North Hill, St. James’s-
crescent, Swansea, colliery proprietor and coal exporter;
Charles Edward Cleeves, Heddfan, Sketty, Glamorgan,
colliery proprietor and coal exporter. Qualification of direc-
tors, £1,000.

Clyde Adams Petrol Economiser Company Limited.—
Private company. Registered office, 6, Idol-lane, E.C.
Registered May 18. To acquire any inventions for improve-
ments in auxiliary air valves for internal combustion
engines, and to carry on business of mechanical and motor
engineers, including manufacture of valves and other acces-
sories applicable for internal combustion engines. Nominal
capital, £2,000 in 1,900 preference £1 shares, and 2,000 ordi-
nary Is. shares. Directors and subscribers (one share each) :
W. F. Clipston, 6, Idol-lane, E.C.; W. Parker, 34, Great
St. Helens, E.C.

Davies (Simpson) and Sons Limited.—Private company.
Registered office, 17, Water-street, Liverpool. Registered
May 19. To acquire business of coal merchants, colliery
agents, salt merchants, and forwarding agents, etc., hereto-
fore carried on as Simpson Davies and Sons, McKellar, Carr
and Company, Carr and McEntyre, and T. H. Grime.
Nominal capital, £50,000 in £10 shares. Governing director,
R. N. Davies, of above address, coal merchant. Ordinary
director, J. G. D. Watts, of above address, coal merchant.
Qualification of a governing director, £20,000; do. ordinary
directors, £1,000.

Gelliher Colliery Company (1914) Limited.—Private com-
pany. Registered office, Windsor-road, Neath, Glamorgan.
Registered May 19. To acquire the business of colliery pro-
prietors now carried on by Oliver Hugh Thomas, at Gelliher
Colliery, Llettybrougm, Glamorgan, as Oliver H. Thomas,
including all existing plant, etc.; also business of quarry-
men, brick and tile makers, wagon builders, contractors, etc.
Nominal capital, £10,000 in 1,000 £10 shares. Directors
and subscribers (one share each) :—Oliver H. Thomas,
Ffynonne, Neath, colliery owner; Herbert W. Thomas, 11,
Cambrian-place, Swansea, mining engineer.

Star Navigation, Coal and Fuel Company Limited-
Private company. Registered office, 24, Goat-street,
Swansea. Registered May 18. Colliery proprietors, colliery
agents, coke, briquette, and patent fuel manufacturers, etc.
Nominal capital, £40,000 in £20 shares. Minimum sub-
scription, seven shares. Directors :—J. Hani, 337, Royal
’Liver Buildings, Liverpool, gentleman; H. de Chaptai, 19,
Rue du Quatre Septembre, Paris, manufacturer. Qualifica-
tion of directors, £1,000. Remuneration of directors, £50
each per annum (chairman £75), and 10 per cent, of surplus
net profits divisible for dividend after payment of 5 per
cent, on ordinary shares.

Steel Castings (Giles Foundry) Limited.—Private com-
pany. Registered May 19. To carry on business of iron,
steel, and brass founders, mechanical engineers, machinists,
etc. ; and enter into agreement with Giles Foundry Co. Ltd.
Nominal capital, £10,000 in £1 shares. Directors. to be
appointed by subscribers of memorandum of association.
Qualification of directors, 500 shares. Subscribers (one share
each) : T. W. Horton, 4, Bennetts Hill,. Birmingham, soli-
citor; Fredk. J. Giles, Montgomery-street, Birmingham,
iron founder.

“ Sprite ” Cleaner Company Limited.—Private company.
Registered office, 22, Blackett-street, Newcastle-upon-Tyne.
Registered May 22. To carry on business of mechanical,
electrical and general engineers, founders, ' dealers in
machinery, carmen, carriers, etc. Nominal capital, £100 in
£1 shares. Directors and subscribers (one share each)
Robert Bertram Turner, Bromford-lane, Erdington, Bir-
mingham, private secretary; Ernest William, 83, Haxlewood-
avenue, Newcastle-upon-Tyne, clerk.

Suffolk Iron Foundry Company Limited.—Private com-
pany. Registered May 19. Iron founders, mechanical engi-
neers, and manufacturers of agricultural implements, etc.
Nominal capital, £1,000 in £1 shares. Subscribers (one
share each) L. J. Tibbenham, Stowmarket, engineer; J.
M. Prentice, Stowmarket, solicitor.

This list of new companies is taken from the Daily
Register specially compiled by Messrs. Jordan and Sons
Limited, company registration agents, Chancery-lane, E.C.

It is officially announced that arrangements have been
concluded, subject to confirmation by the shareholders, for
the amalgamation of the Peninsular and Oriental Steam
Navigation Company Limited and the British India Steam
Navigation Company, by means of an exchange of stock.